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Procol Harum use to sing “Bankers and lawyers destroying mankind” in Strong as Samson. Today, we change the bankers and lawyers to the Social media. It is bad… or is it? There truth is not always so simple. Limited list of causes:
• Tim Berners-Lee invented www-technologies
• Technologies went from science to commercial side
• search engines
• Internet (web) ads
• Internet(Google) economy: small monetary transaction, huge volume
What happened? Google and Social media changed the rules of the game. Strategical basic operation.

Old economy’s basic model for media is:
• printed media and big group of professional editors (fixed costs)
• expensive subscriptions
• expensive printed ads
Which one do you think is more attractive? In fairness, the printed media is still having more credibility but is it worth of the price?

Old printed media are shouting the governments, EU and whatever to help. Their business model is not capable to handle the new economy. They are obviously in the NET, but the paywalls (which at least I hate)are not the best way to handle the situation, especially because the internet educated us to free or very cheap information from the NET.

Now printed media is worried that Social media links to their news. So what? Social media is bringing to old media potential ad-clickers to their own ads. So what is the problem? The problem is obviously the fact that it won’t replace the old style income. The world changes, adapt or die.

But then comes the other side of the coin, profiling. To make life easier for marketeers Social media is doing very extensive user profiling which by nature is also a weapon for influencing politically and other ways to masses. That is the danger which will either destroy us or social media.

The bottom line. Do you know personally anyone or any company which has made a fortune by using Social media? I know. Social media giants. Any other? Honestly? None.
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