May 3, 2011
I recently stumbled upon a newspaper article in the Wall Street Journal discussing Facebook, its finances and the impact advertising has on the social media site(money money money). To summarize the article Facebooks business is growing faster than investors had forecast some months ago when Facebook began talking about going public, Goldman Sachs Group Inc. and Digital Sky Technologies, a Russian investment firm, began investing in the tightly held Facebook. The company has recently been estimated to exceed $2 billion in earnings. If the the company does go public they could become one of the largest technology companies.
So where does Facebook get all its money? Obviously from these investors that spent 1.5 billion dollars on the company. A potential source of finance, if the company goes public, would come from advertising….so how does this relate to media? A lot of media out there is funded by advertising. Don’t believe me, look it up on Facebook or something. So if this happens to Facebook and they are forced to put more ads on their site because of ad revenue, will it be the same site? Will they still appeal to everyone if they have ads flashing all over the place? They have begun advertising for brands with users indicating if they “like” the brand. I am curious to hear your opinions so post a reply! thanks
May 2, 2011
So, if you haven’t heard the news, BIN LADEN IS DEAD. Reportedly, the news came into the White House around 9:45pm Sunday night and President Obama was to address the nation at 10:30pm. Many people in the news industry had the idea that the important speech to made had something to do with Bin Laden, but no one had recieved confirmation.
Around 10:25pm, right before Obama was to give the country the great news, Kieth Urbahn (the chief of staff for the former defense secretary Donald Rumsfeld), Tweeted that he had heard of Bin Laden’s death. Leave it to an important political figure to give us the information via Twitter. The Tweet read as follows:
“So I’m told by a reputable person they have killed Osama Bin Laden. Hot damn.”
Really? “hot damn”? Congratulations former defense secretary, you’ve officially turned 16. Honestly, who leaks such important information through a social media site? It’s great that everyone had access to that information immediately, but could the country not wait 5 minutes to hear the speech from our president (which I’m sure didn’t include the words, “hot damn”). On one hand, social media allows officials to share drastic developments with the country in a immediate way, but on the other, it may be leading to shorter, less accurate news statements. Also, it could lead to more news causing panic. If we are only fed a short bit of extremely drastic news through a status update, it leaves people wondering the details.
It embarrasses me that our country has worked so hard, for 10 years, trying to catch this terrorist, and the way that the information is delivered to us is through a single sentence that uses the vocabulary of a teenager. Some people may in fact be too old and have too much power to be using social media sites.
May 2, 2011
On April 29th dozens of Facebook pages in Britain disappeared overnight. Right in time for the royal wedding, several left-wing based Facebook pages were cut by the social media site. The reasoning, as stated by Barry Schnitt (Facebook spokesperson), was that there were several Facebook pages that were created under a false name which is not permitted by the site.
Although Facebook’s reasoning seems verifyable, it is still curious that over 50 pages run by left-wing activists were deactivated in one day. Facebook officials say they have offered to create official organization pages for these sites, but many people like the simplicity of a personal page where they can connect with their followers. Many of the sites that mysteriously disappeared were used to organize protests and recruit people for petition signing.
Could this be Facebook controlling politics? This power that Facebook holds makes me skeptical about what will happen during the upcoming election here in the United States. If Facebook officials are bias towards a particular political party, will they be able to deactivate personal pages that organize political involvement for an opposing party? Sometimes the power that Facebook has to sway our opinion is scary, especially considering the large amount of youth users during important political changes in our country.
April 25, 2011
In late March, Richard Blumenthal, and a few other Democratic senators, wrote a letter to Mark Zuckerberg explaining their concern for recent plans Facebook has had to make a new application that would reveal users personal information (such as addresses and phone numbers). The senators asked Zuckerberg to reconsider this new application, or atleast to make the users aware of it and have the option to not be included.
Personal privacy is extremely important, especially with the availability that people have through the internet to obtain and misuse other people’s information. Blumenthal stated that with the information that people would be able to obtain through this Facebook application, along with a simple Google person search, someone’s personal information could be in serious risk.
It feels good to know that the only politicians contacting Mark Zuckerberg aren’t Presidential candidates looking to put up a picture of themselves, but also politicians like Blumenthal who are trying to protect American citizens.
Copy of the letter sent to Zuckerberg:
Letter to Zuckerberg
April 25, 2011
With the election getting closer every day, candidates are jumping on the social media band wagon quickly. In this video from the New York times, Megan Liberman discusses the sudden urge of candidates to promote themselves via Facebook, Twitter, and other social networking cites. With the success of the 2008 Obama campaign, it would seem as if this is a new, permanent way for political figures to reach their supporters. But will people really be persuaded through this method, or will it cause actual political enthusiasts to sigh in disapproval? I believe that Facebook and Twitter are a great way to reach out to the youth of America, but I think that people that will actually be voting and paying attention to the polls are an older generation that may look down on the social media tactic. No matter how much political elites may look down upon this sudden jump to internet propaganda, you can’t deny the effect that Facebook has on our culture, especially our youth.
April 21, 2011
And it begins!
It seems like only yesterday we were witness to the 2008 historical presidential race and election. Now we are already set on 2012 but how have things change for the political races since ’08 and what effects will social media bring to the ’12 race?
Unlike 2008 the internet has become less of a source magnet and more of a vehicle to raise awareness and get people registered to vote. Everyone has a twitter or a Facebook and everyone who wants to be taken seriously is constantly connected. We as a society have demanded this of our officials and the game has seriously changed. No longer will a list of emails or a bunch of well crafted commercials be your main source of revenue, but your Facebook and twitter will help you grasp your popularity and chance of winning.
We truly live in the world of tomorrow and just as everything progresses so does the political game. I will be interested to see social medias crucial place in 2012. As the election approaches I predict that Facebook will help win this election. Let’s just hope everyone thinks before they speak … or shall I say “before they type.”