It’s been a busy week in the world of social networking, with more and more independent, smaller networks emerging, and all the major players taking a hit on the stock exchange. If you’re thinking about starting up your own social network or work in online advertising, here’s three news items you should be aware of.
1. Things haven’t been looking so great for major social networks on the stock market; even Facebook, which isn’t suffering from the same drop-off in sign-ups and activity as Twitter, Yelp and Linkedin wasn’t safe, dropping 2.6 percent. Facebook’s stockholders may simply have decided to cash in after the company’s stock reached record highs a few weeks ago, but it’s also been suggested that people have been spooked by their 82% rise in expenditure (hiring new staff, and investing in technologies that will bring the internet to remote parts of the world). By contrast, smaller social networks like Migme are having a fantastic run, with their shares showing continuous growth.
2. 18 percent of social networking site users have blocked, hidden, or unfriended someone for posting political articles and opinions they disagree with or find offensive. If you want to argue about politics and religion but don’t want to stir up trouble with colleagues or family, there’s two social networks just for you. Roust is an invitation-only social network for people who want a space to talk about important, hot-button issues in a space where lively, controversial debate is welcomed (encouraged!). They’ve introduced a dislike button, and the creator thinks it works well because people go in expecting strong, potentially unpopular opinions. Sean Parker, founder of Napster, has been working hard on an app called Brigade; this social network was designed to encourage Americans to engage with current events and political news.
This is interesting because it shows that niche social networks can be as much about *how* we communicate (eg, providing a space for people who want to be able to share strong opinions or do everything via video), as they are about creating spaces for people with similar interests to come together.
3. They’re calling it “the right to wipe” – that social media users should be able to completely remove any trace of posts they made before they were 18. Social media vetting of prospective college students and employees is becoming increasingly common, and increasingly easy; some employers have even fired current employees based on what they posted on social media as a teen, years after the posts were made. It’s something that’s worth thinking about – should we be looking at encouraging teens to join smaller, less public social networks while they’re going through their formative years? It’s also important to consider, before admonishing young people for not thinking about how their posts could affect them later, that large social networks are collecting huge amounts of data about users, regardless of how careful they are about their privacy settings – and they aren’t particularly transparent about how they share that data, and who they’re sharing it with.