When is the next phase of the Internet going to present itself? We hear talks about Web 2.0 and Web 3.0 but when are we going to see social media adapt into it’s third phase? It could be after the recession.
I was reading a post by Chris Charabaruk about social media surviving the recession and he makes a comment about social media adapting towards the end of 2009:
“I think that social media will survive the recession. The idea itself is so insidious, so viral that it’ll never be stamped out. But how the world of social media will appear at the end of the recession will certainly be much, much different than it looked like going in.”
I always liked to dream that the next phase of the Internet or social media would be through innovation and a new form of communication. When will the next phase come? When does innovation and quick development happen? In what Keith McFarland calls Hard Times University in his book Breakthrough Company.
When we are faced with hard times and adversity… the survivors shine through. I think we will see the advent of a new form of social media because of the economic crunch. Sites like Facebook, Twitter, and Myspace will have to learn how to monetize or die and because of that market stress they will evolve or die.
I am excited to see the transition. In like every market there are deaths, changes, and rebirths.
Unless you are Ford and GM… then you get a bailout.
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Social media is going to survive for the same reason small business will: low overhead, lots of people to support lots of networks, low or no cost of entry, and each network feeds the other.
Web 2.0 networks must find ways to start selling things rather than just offering advertising space.
Ford and GM have used the “selling-things” business model successfully for many years. When the economy rebounds cars will still be sold and will monetize automobile production.
Likewise, the recession will benefit those networks that sell things and hurt those with advertising based business models.
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@Bruce I think it is more catered to monetizing their user base instead of selling actual product. I don’t know if they can do it though.
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