This blog contains posts starting in 2008 from students at The Fletcher School at Tufts University, the Leipzig Graduate School of Management, and Hult International Business School. This is an excellent resource for information about all types of social networks, research strategies, and analytic techniques.
Hi guys! I wanted to share with you why Social Networks are
so important, especially for the Millennial Generation, or Generation Y, G, We
or Globalists as they are sometimes referred to. First of all, I have attached
one video that explains how the world has changed in terms of ways of working.
From the baby Boomers to Millennials.
Then, here is an infographic from InSites Consulting that
explains the what, where and why of Millennials and Social Media. For this
generation, as you can see in the post, Social Media has become indispensable.
In addition to this link, I share with you another interesting
infographic that explains how important are Millennials in the market, as
employees and as consumers.
According to our debate topic I found another interesting article. Facebook will most likely be replaced by a new concept embodied in an app called Nextt.
The article raises the interesting point that people who post on facebook actually paste past events. Now this new concept Nextt will enable users to coordinate future events with friends. Maybe social networks won't be dead after all, but rather continually replaced by new concepts that educate consumers and shift consumer behaviors or demands.
With the growth of technology, the social networks not only
limit its scope within the real connection between actors but also expand to
virtual connection. The world keeps changing in the way that everyone tend to
interconnect to each other, more dependable and this change seem more rapid in
recent century. That’s how virtual social network like Facebook, Twitter, LinkedIn…
flourish. Social network become more and more popular and corporate can utilize
it as a channel to approach customer. The effect of social network will be more
significant if the company works in service industry or technology. But how to
utilize effectively the benefit of social network to drive business, the
article below will help to give a holistic picture regarding this question
During my
weekend I rethought our discussions during class and in the course of our group
work. It was fascinating how much can be done with Social Network analysis and
how easy it is to surprise yourself even when analysing your own network.
Nevertheless,
in a retrospective it is frightening at the same time how much information is
exchanged and what can be done with it. Facebook and other networks became such
a big part of my life that I cannot imagine to live without it anymore even
though I know how much information I spread into the world. This is not the
only threat though and that is where I would like to share the content of a
book I recently read with you.
The main
topic of the book is not exactly related to Social Network Analysis but without
the information exchange on Facebook the Analysis would not be possible and
therefore, it is also necessary to point out the risks social Networks can
bring along for an individual user.
The author, Meg
Jay, is a clinical psychologist who suggests in her book, called “The Defining
Decade”, that many twentysomethings (our generation) feel trivialized during
what is actually the most transformative and defining period of our adult
lives, our 20th. This age is a time when the things we do and the
things we don´t do will have an enormous effect across years and even
generations to come. However, many still act as if the 30th are the
new 20th.
One main driver
that leads to this loss of focus and a lack of taking essential decisions is
the everyday comparison and redefinition of own goals with goals and paths
other people take and share on the social network platforms. Today, a lot of
unhappiness comes from the fact that others tell us what is right and what we
should do with our lives. If somebody has a goal he is motivated to do so from
the insight out. If this person listens to everything people suggest him to do
he will be paralyzed by all this possibilities. We need to take our own
decisions to find our own way.
In social
networks, such as Facebook, every day we get the feeling that everybody is
happier, more successful and even prettier than we are. Facebook is full of successful
cosmopolitans that learn French in Thailand, work for an NGO to make the world
a better place while they are working on a third university degree. The truth
is that it only makes you unhappy to compare yourself with others on because
nobody would ever share what does not go well in their lives. Pictures and
tales are whitewashed.
If People
concentrate too much on other whitewashed lives they will spent too much time
with the goal to whitewash the own life. As Meg Jay states, it is important to
focus on own goals and dreams in order to make something of your life before
you take all decisions in a hurry right when you get 30. Therefore, be careful of
how seriously you take the information that is shared upon social Network
sites.
Best,
Annemarie
Here is an additional TEDtalk from Meg Jay about the book:
On Behalf of Suresh Bandela
Impact of Social Media on Journalism Over-hyped??
Though the perception that social media will radically
change the ways in which news is being delivered is true, this perception does
not take into account the dynamics of Journalism. Journalism is not only the
delivery of news but also includes creative and intellectual insights on the
news. Journalism is a process of adding judgment, analysis and explanation, to
put the news in perspective. These inherent characteristics of Journalism
cannot be trivialized by the onslaught of social media. Mainstream media, being
fully aware of the trends of social media, are using it appropriately. The main
stream media houses are here to stay.
The article (Link) explores impact of social
media on Journalism.
Hope Some of you will find it interesting as i did !
Cheers
Suresh Bandela,
M14.
Here is an interesting report on the survey of 4200
global executives, conducted by Mckinsey&Company, regarding the benefits of
social technologies in organizations.
The results indicate that social technologies can
increase company's financial performance when embedded into work processes of
employees.
The benefits of these technologies in the organizations
may not persist, in all cases, simply because of the effort required to
implement them, however some respondents are of the opinion that social
technologies help to increase their agility and to manage organizational
complexity.
Here are the highlights of the survey
1. 72% of the respondents report that their companies are
deploying at least one technology 2. More than 40% say that social networking
and blogs are in use in the organization 3. 86% of the respondents' companies
in high tech and telecommunications and 62% of companies in energy industry
have deployed these technologies across all sectors 4. Reported levels of
benefits have increased when respondents' organizations use social technologies
for communicating with customers or for integration with partners and suppliers
We see it all the time… people at a bar or
restaurant, enjoying a meal “together”, on the bus with their friend, going
somewhere “together”, spending time “together” with their family. Today
“together”, in the context in which I refer to it above, maybe just as plain as defining it as;
Together:
in proximity to another person or people.
The word together, to me, feels as though
it is more than simply the definition above. I feel as though together means,
not only in proximity of another person, but sharing an experience with the
other person, exchanging feelings that only being in the presence of another human
being can make you feel. Call me an idealist, a dreamer, a romantic, but I
truly believe your connotation of this word, together, is very similar.
With the ever-growing penetration that the Internet has in our lives, are we
truly as together and as truly well connected and together as social media platforms like
Facebook and LinkedIn would lead you to believe? Do we really know as much as
we think about the people we need to care about and love?
The issues with our increased ability to contact people via the Internet and phones we hold if our hands, discussed in
Sherry Turkle 20 minute TED Talks presentation, are culminated in a very
distressing, daunting story I read last summer of a 15-year old Vancouver girl named Amanda Todd.
If you are easily upset by stories of isolation and bullying I would like to
issue a word of caution; it is greatly saddening but nevertheless, provides a very
important lesson to all users of the Internet. Amanda was cyber-bullied to the point of extreme depression and eventually suicide. In the end this poor girl turned to the one thing that she knew
would listen, technology, youtube, to tell her story.
I came across this interesting article that demonstrates the use of social networks for intelligence agencies.
The authors took the data from twitter and analysed the social networks to identify the key people in the organization and simulating of information flow. This article helps to realize the hidden potential of social networks and the information present in them.
From the intelligence perspectives, it helps to understand how security agencies can identify Agents that may be willing to give out information to the intelligence agencies. It also talk about the simulation of information in case the top leader in a terrorist organization were to be killed.
People with keen interest in military and social networks would love reading this article.
I hold immense love for social media - it keeps me updated and connected with people and trends. However, every bright idea has a dark side to it and so does Social Media. Chris Norton in his blog, defines some of the disadvantages that social media campaigns bring to an organisation.
Time Consuming - The use of social media for organisational success can be as hard as it gets. Effective use of social media requires a minimum of 6-8 hours a week. I agree with Chris Norton when he talks about the gaps which can be left between two successive blogs or tweets by an organisation. Such gaps are perceived as the laid back general attitude of a company towards its clients.
Negative Comments - Receiving negative comments is absolutely normal for any firm, but the timely response to such comments is what makes it or breaks it for a firm.
Fraud - A through check on social media is also required as a rival firm could pretend as some other business and cause damage to the reputation of a brand.
A lack of short term ROI - Returns on social media investments take a long time to show up and are tangible - they simply cannot be accurately measured.
Lack of interpersonal communication - Its always better to put a face to a name. It is difficult to develop a relationship with someone who is for the most part anonymous.
I completely agree with Chris, when he rightly says that Social Media isn't a gem which will change a bad company into a good company. An effective use of social media varies for different companies and can definitely not be measured yet !
2011 London riots shocked the world but what was more shocking
was the role played by social media. Blackberry’s famous BBM service was used extensively
by the rioters to send out information about Police activities and to collaborate.
Police and Government had no control over the BBM service and therefore were unable
to stop the riots from spreading. Social networking is a double edged sword and
if used by anti-social elements can prove to be disastrous.
According to reports from Wall Street Journal and CNN, terrorist organizations are leveraging the social media to promote their anti-social activities, this poses a challenge for the Governments and national security agencies around the world.
The ability to bring together and connect people of social networking sites is so powerful that we just
can’t leave these social platforms unguarded; we need to protect them from misuse by anti-social
elements and terrorist groups. And therefore, we need some kind of
regulatory authority to overlook social media. We know that, People don’t like
NSA type snooping (http://www.nytimes.com/2013/09/29/us/nsa-examines-social-networks-of-us-citizens.html)
and people have an inherent distrust in the governments, therefore what we need
is an international authority that will have access to various data-centers of
different social media and will safeguard these powerful tools from misuse.
The implementation of the regulatory authority
may face many political and tactical challenges but if we don’t control this
teenager now, he may grow up to be a rowdy adult. We are living in a world where
technology is changing the way we see things and interact with people every 5-6 years.
Most people can’t cope with this change leave alone understanding
the implications. And hence, we need to guard and regulate it before it
snowballs into something uncontrollable.
Last year, I
was surprised when i saw my Indonesian friends' number of Facebook friends.
Most of them has more than 1000 to 2000. I tried to figure out why they have
that many friends, is it because of Indonesia has 200 million of population? I
asked them, whether they know all of their FB friends or not. Answer? No.
They said, when someone asked to be a friend, just accept, that was all.
According to
Robin Dunbar, the author of "How many friends does one person needs?"
and co-author of "The persistence of social signatures in human communication",
even though you have over 1000 or more Facebook friends, the number of your
closest friends are almost same.
Simply there
are two reasons, one is cognitive challenge, and the other is time budgeting problem.
He said, the quality
of relationship can be only improved through the face-to-face situation,
because on-line communication cannot fully express the emotion and be recognized as
well.
The other argument
is really simple. People do not
have time to follow up all their Facebook friends!!
Personally, I
strongly agree with his ideas.
Except for few of
friends of mine on Facebook, for me actually the others are the “voyears” and me as
well!
Moreover, I believe
the quality of the relationship among friends never can be improved only
through on line communication.
Being a Facebook friend is much easier than being a real friend, isn't it?
Presence on any Social Media platform exposes us to virutally millions around the globe who could literally rip your career apart for one questionable 'tweet' or 'status update'. As has happened for this PR executive Justine from NYC who was fired from her job within 12 hours of posting a racist tweet. More about her interesting story on this link: http://www.theguardian.com/world/2013/dec/22/pr-exec-fired-racist-tweet-aids-africa-apology
While celebrities have professional online image managers, we could certainly gain from some handy do's and don't about building a strong professional image online. I came across this article which has some interesting pointers about just the same across important platforms such as Twitter and LinkedIn. The author points out an important and rather ignored aspect of sending the templated 'I would like to add you to my network' message and the impersonal & dry impact that it has on a poentially career changing connection. Comparing it to an actual human interaction, we would never go about it in that manner.
In this video, Harvard professor Nicholas Christakis explains how it is possible to predict epidemics by using social network theory. The interesting thing is that he did this without actually having to map a human social network.
Instead, he used a known fact about social networks, the so called "Friendship Paradox": The friends of people that were randomly chosen have more friends and are more central in the network than the randomly chosen people themselves.
He tested this fact on an outbreak of H1N1 flu at Harvard. In this study, 1300 randomly selected undergraduates from Harvard nominated their friends. The researchers then followed both the randomly selected undergraduates as well as the friends daily in time to see whether they had the flu or not. By monitoring the friends group, the research group got a sixteen days advance warning concerning the pending epidemics.
I came across this article while researching for social networks. Social networks can still happen offline, believe it or not. Why not via physical activity?! This article shows that business relationships can form in informal settings, while fighting through a tough workout together. This form of bonding outside of a professional setting can increase overall productivity and social relationships. After all you might have something in common with your boss or client, etc.
This acticle talks about how to define social media and social
media strategies and goals to properly brand ourself and promote any kind of
content.
Gives some interesting comparisons and examples between social
media and social networking and the “tools” they use.
Here some interesting ideas I took from the article: one basic
goal of using social media is to define and decide the form how to connect
with your audience: blog, video, newsletter, podcast or eBook. Social media =
content. Social networking is all about engagement (creating relationships). Social
networking goal is to interact.
It gives
very clear concepts and ideas how to create your own social and networking
strategies to promote your own contents, in this case they uns the example of
promoting a book book.
Prerequisite to the below mentioned articles is that you
should have done your MBTI test and you know your personality. Basic
information about MBTI can be accessed at-
I just came across two fascinating articles linking our
personalities judged by Myers Briggs to social media.
First article talks about how our personality reflects our
decision on the type of Social Media we chose. For e.g. some likes to spend
their time on Facebook, some on Twitter, some like to grow their professional
network on LinkedIn.
Another article was even more interesting. It talks about
how an organization decides which person to choose for a social media team
based on his/her personality. Some will be good in Social Customer Service;
some as Listening Coordinator while some others as Social Logistics Manager and
many more.
Again for the complete information read the article-
What is social business? Social Business is when an
organization is using Social Media in its activities like Marketing People
using Facebook, Customer Care department replying via emails, tweets and posts
on Facebook etc. How many organizations allow all its employees to do that on
behalf of the company? Not many, but there are some who do that. Take for
example IBM.
IBM not only uses social business for external communication
but they are doing that for internal projects also. They continuously use
crowdsourcing to reduce the cost of their internal projects. What’s the best
part is that the employees gain points for helping in the crowdsourcing and the
employee with maximum points get monetary rewards for his chosen Charity. Isn't
it simply awesome? IBM created many products to use social networking like
Lotus Connections, Atlas, Domino, Notes etc.
One of them is a network analyzer tool called Atlas. The
basic working of its one module is as follows-
You are working in some department and you have got a
project on which you need some assistance. You go to Atlas, search for the
department. You get the names, profiles and also the pictures of people who
have worked on the same type of requirements (Mind it that it’s not public.
These are covered in IBM’s privacy policy and it’s visible only when employee
choses so). You chose one person and then you are given the list of how to
reach him/her via both social and professional contacts by utilizing a network
diagram. This way you can continuously increase your colleague network and they
are even color coded based on how they are added in your network. They are closer
to you in the network if you can directly contact them and far from you in case
you can only interact with them indirectly via some other person.
For more information on IBM products see the videos-
There is a chain of videos also on YouTube for- "A man who should have used Lotus Connections". First part in the series is-
If you, while trying
to comprehend what is on the e-book on your computer screen and then, involuntarily
scan the bookmarks bar for something—anything—that might offer a moment’s
respite from drudgery. And if, that something often turns out to be Facebook and
that “moment’s respite” turns out to be the next hour and a half, we have a lot
in common. While facebook has successfully managed to waste my time since
2008, it has managed to do something
really powerful in the middle east. You might want to have a look.
I've come back with a very interesting documentary about how social networks have changed the world. With a lot of information, the documentary gives you a look how we interacted with people in the past and how we are now communicating with others. I am sure that you will like it a lot with useful figures and even the presence of Justin Bieber, Larry King or Katy Perry with funny moments.
I also agree with what are said in the documentary about how social networks have changed us. I am happy with the positive changes that they have brought. I am happy to know the news about my friends who I have not met for a long time. I am happy to be connected with others. However, like many people, I am also worried on seeing that even mothers and children are "talking" to each others on Facebook even when they are only a wall from each other (in the same house).
And now if you are on Facebook, just send me some messages and we can chat with each other :D ding..dong... Actually, it's not what I want to say ;)). If you are on Facebook now and trying to change your Privacy settings, I have something funny that you will like ;).
(The roast of Facebook)
Wish you all the best and sleep tight, dear friends :)
Games have evolved over generations. We used Atari, Nintendo
Wii, PlayStation, Xbox and so many other consoles. Now games are on Social
Networking websites like Facebook. Social Network games are becoming more and
more popular. It all started with Mafia Wars, Farmville and now Candy Crush.
Even mobile games are now having an option to play online or post their scores on social networking sites.
Console games are more and more getting integrated with
Social Media. Facebook, Twitter integration inside games is increasing.
Previously it was just multiplayer games, now entire communities for gamers are
forming. Special networking websites for gamers are present where hardcore
gamers interact. Even developer communities are on an increase.
There are some questions-
Why social networking games are so popular?
Games like SIMS was popular, was the reason for its
popularity was that it portrayed real relationships among people?
What games like Farmville have done that have made them
popular?
Why was Mafia Wars so popular?
Why one posts his/her high score in a game online? To tell
his friends, if yes why?
Can there be a relationship between game developers, their
publishers and game consoles?
Can there be any relationship between gamers and consoles
they chose?
Is future consoles going to have AI?
All these point to a simple fact that gaming industry can be
understood by Social Network Analysis and the developers are using it to develop
games. Also how the gaming industry is using Social Media to gain popularity. For
AI to be embedded into consoles, some steps have been taken. For eg. Sony PS4
will learn from users and will suggest games based on their preferences; it’ll
also download some demos if it feels that the user will like the game. I agree
with SNA of gaming industry and some research has already been done on the
topics.
Here are some interesting articles and research paper for
the same-
The road to success for most of
the entrepreneurial venture goes through the extent of innovation it does and
the level of uncertainty it is capable of managing. A recent work by Dennis P.Leyden, Albert N. Link and Donald
S. Siegel has highlighted the importance of social networks in this aspect. The
model is based on the notion that an entrepreneur is searching for knowledge
and that key to the acquisition of knowledge is access to social networks. When
the entrepreneur acquires more knowledge, there is a greater probability that
his/her innovative activity will be successful. The probability of a successful
innovation can be correlated with the size of the region to be searched for
knowledge. The entrepreneur's ability to increase the size of this region
depends on the expansiveness and heterogeneity of his/her effective social
network. The experiential knowledge yielded from this social network
complements the innovation process. It has been an established fact that a key
determinant of a university's ability to generate start ups is the vastness of
its academic social networks. The many forms of university-industry
relationships like consultancy, contract research, joint research, training,
licensing has played a great role in developing into a success parameter for an
entrepreneur. It has been observed that some of these forms like joint research
are more conductive to fostering social networks than the others such as
licensing. To that extent, policies that focus on these relationships will
surely be of much greater value. For example research partnerships are
generally more attractive to university faculty members than research service
contracts. Star academic scientists with a strong entrepreneurial orientation
have been in the center of the objectives while framing different policies to
stimulate academic entrepreneurship. Bringing a star scientist on board
potentially secures access to the social network of that scientist which not
only has large implications in terms of entrepreneurial process but also plays
a great role in attracting additional financial support for research and
commercialization. Another important implication is that success of a venture
needs more than good ideas, sufficient resources, outstanding business plan and
intelligence. A high level of alertness about the opportunities in terms of
outcomes, with whom they work and how they manage the network is of real importance.
Leading entrepreneurship scholars have found that social networks are especially
important in the start up process at universities because these networks
include graduate students, post doctoral researchers, current and former
colleagues and associates who are capable of providing advice, expertise and
also access to financial sources.
Finally, it will not be incorrect to say that social
networks constitute a mechanism for the entrepreneur to create and exploit such
opportunities.
Well, Para is a remote Brazilian state deep inside the Amazon rain forest. Here running water is a luxury and paved roads are a thing of the imagination, but guess what...there is Facebook.
Yes, that is the power of social media in today's world. In Para, Facebook gives hope to the indigenous groups fighting to save their habitat. They have a Facebook page to fight against the construction of a new hydroelectric along the Xingu River. through social media they can reach a wider audience and garner support for their struggle. Given below is the link to their page
Not only Para, the situation is reflected throughout Brazil. Known as a country with distinct rich and poor economic class it is the social media which is uniting the classes. 79% of the Brazilian population using internet is now on social media. It is second only to the USA in no of twitter and Facebook users. With an average of 9.7 hours per month spent on social media the numbers are heading only in one direction - up and up. Brazil is now being considered as "Social Media capital of the World".
With important events like the Football (Soccer) World Cup in 2014 and the Summer Olympics in 2016 coming up even companies are keen to invest in the country. A host of big names like Coca-Cola, Unilever, Nike, L'Oreal, have recently launched aggressive Facebook campaign to target the active netizens.
None the less Social media marketing is still in its infancy in Brazil and it may take time to develop. Overall, the picture looks rosy for Brazil as far as social media interactions go.
Coming to India, social media is playing a vital role in shaping the future of the nation. With over 50% of the population well below 30 years of age the number of people becoming members of the social media is increasing year after year.
The importance of social media can be felt as today, even political parties are breaking their age old shackles and taking their campaigning online. Leaders are trying to be network savvy so that they can connect to youth who form the major vote bank.
The effect can also be seen as Google for the launched their advertisement campaign India. Even with a market share of well over 95% Google understood the threat from social media and other apps which are rapidly replacing the Google search engine. Faced by such threats we see Google launch their advertisement campaign to explain the features of the search engine.
Thus we see that social media usage is increasing in developing nations and the future is in these countries
I remember it was much easier to focus on my studies before I have joined the Facebook. Once I joined it, it was always open my laptop/handy/ipad or whatsoever and I had a look whenever I get bored or distracted. I am more than sure that it is most likely to be the case for many of students. However, this study revealed that "time spent on Facebook was strongly and significantly negatively related to overall GAP."
Even though there might be some positive aspects of using Facebook, I think the negative effects of those social networking websites overweigh the positive ones, especially for students. Most obviously, whenever students are studying or searching their course material online, they tend to get attracted to Facebook; thus, they lose their attention. In addition, this reduces real human contact, wastes students' time for not very valuable information or activities, and negatively affects on physical health.
According to the below study of the effects of social media on college students, researchers found 80% of participants in the study used social networks while working on homework, seeing a negative effect in efficiency and grades. Some students spent 6-8 hours per day on social media such as Facebook, while doing their homework.
Knowing all that, a lot of students still stick to Facebook while working.. I wonder if this addictive behavior could change ever.. I am off Facebook at least for the next 2 hours.
Do you remember having multiple single purpose
devices like a watch, a camera, a telephone, a calculator, a notepad and a
calendar? And although it seems as though we have made huge progress since then, the developments we have seen in that field are merely the tip of the iceberg; what’s to come is even more astonishing.
So astonishing infact, that in a few years, a thin piece of plastic film the
size of a credit card will be our ID, our phone, our TV, our PC and even our bank.
Think it’s not possible? Well, think again:
ever heard of graphene – carbon atoms, woven together in a net that is no
thicker than one atom, conductive, flexible, featherweight and much stronger
than steel? Check out what it can do in this cool episode of the "One Show".
And it doesn’t stop there: take a “sheet”
of graphene, roll it into a tube and you get nanotubes that will bring about
all sorts of cool things like invisibility cloaks or the
space elevator. But
most of all: it will become a medium to solve all of our society’s problems: a social medium in a very literal sense
of the word.
Why is that? To start, think about what this technology can do for
us in terms of energy and water – the two basic survival requirements for
humanity – by listening to an impressive TED talk by Justin Hall-Tipping:
Being able to rearrange materials on the atom level, machines of all sorts will become smaller and smaller, opening a vast new realm of possibilities. Suddenly, their integration with the human body and soul seems not so far away.
This "intelligence revolution" is one of Professor Michio Kaku's favorite topics. For a thorough delve-in, read his latest book “The future of the mind” – for a quicker glance, see
what he has to say in this episode of the BBC documentary “Visions of the
future”:
(For those who don't want to watch all of it: take only the last 15 minutes). Taking the thought of tiny brain implants even one step further,
think about what we will be able to do with the rest of our bodies: replace muscles and
nerves by tubes that are virtually indestructible, craft bones from super-strong carbon or heal cancer by the touch of a hand. Sounds
fantastic? I agree!
Finally, let me recommend “The Lord
of all things” by Andreas Eschbach. First of all, it's a good read, very imaginative and provoking several thoughts, for example: How will it feel to drive a car and to watch yourself at the same time doing it? How many amazing things will we be able to do with the ability of dismantling and re-assembling ourselves to any shape or form and to any place in an instant? Or what implications would being able to "see" what someone thinks have for our traditional forms of communication?
But more importantly, it asks one
simple-sounding, yet mind-boggling question: if anybody can do anything that anyone can ever think of and if everyone knows everything, at any given moment, everywhere, in other words: if we all have indeed mastered our
minds and have become lords of all things; what’s next?
Konrad Sell
MBA class of M14, Leipzig Graduate School
of Management
Is not it amazing that a simple hoax tweet is
able to cause the drop by 150 points in the Dow Jones? Nowadays everything is
going so fast that we are not able to control it. Here we can find an
interesting article from the New York Times where we can see the consequences
of social networks on markets.
In this age, almost everybody can write on the
social networks without being aware of its consequences. Politicians, companies
and power people use social networks to share information. However, with
hackers they are not always the ones who write the information leading to
serious problems.Social networks are
everywhere. For example The Securities and Exchange Commission decided on April
that companies are able to use social media sites to broadcast market-moving
news. Also Bloomberg delivers select posts to hedge funds and investment banks.
However, some of them are hoaxs that can origin a loss within investors.
Now, people believe in social networks without thinking
about its sources. Everything goes very fast, so also its consequences. This
article is a perfect example of it. Even markets based on supposedly serious
statistics, information or sources, are affected by social networks. The hard
work of an investor can be spoiled by false information that they have no
control of authenticity. So people, use social networks in the good way and do
not trust everything written on it.
