Was reading Fred Wilson’s blog on Twitter and started scrolling through the comments. It was pretty interesting to see people’s reactions to the video he posted and their thoughts on Twitter in general.
I have been called the “oldest man in social media” by some of my Stocktwits friends. Quite frankly, I am almost fifty but looking at the revolution I am witnessing in media I feel eighteen. Old media is going to be disintermediated and you can see the panic in their eyes. They know it, the market is starting to realize it and while the sharks aren’t swimming in circles yet, there is enough blood in the water for them to know sooner or later they will feast on some old whale carcasses.
In my home, we usually are pretty early adopters of certain technological things. We had iPods before anyone we knew. My kids had cell phones. They have 2.5 years in age difference, and when they were in high school we noticed there was already a generational gap in communication. With the older it was possible to call or text her. With the younger, only text.
My way to social media came honestly. My youngest daughter created a MySpace profile at the ripe old age of 12 that said she was a swimsuit model and Stanford swimmer! A freaked out father figured he better learn the ins and outs of this stuff and so I delved in. The evolution in social media has been fascinating.
Just to let you know a fun fact. Most economists gauge that it takes 30 years for a real revolution to become maximized in economic terms. The printing press, electricity, steam engines, factories and other innovations took that long to realize their full potential. The same will be said for social media when we look back on it in say, 2035.
Today, I am sensing another pretty major shift that I have been waiting for. Around three years ago, my friend Allan Schoenberg and I were talking about social media. We had just chatted with David Meerman Scott. We had a very stimulating conversation about the markets and Twitter.
Allan and I began having a much richer conversation targeted towards markets after David had left. Allan out of the blue remarked, “Facebook is flat.”. I had to really think about that for awhile. This was early 2009. But Allan was right. For trading purposes, Facebook was a pretty terrible place to try and get information. Twitter was immediate. Links posted could be researched.