Social Networking Entreprenuerial Opportunities
The presenters had some interesting things to say on a wide variety of topics. A post by Elrend Wilhelmsen discusses some of what was discussed.
My main points were:
Social Everywhere -
I work with a lot of different shapes and sizes of companies and it's interesting how each one has opportunities to leverage its users to form different kinds of communities, create connections, encourage contribution, etc. It is almost universal that there are opportunities around social networking. Generally these are oriented around:
Niches & Content Oriented Networks
You see all kinds of niche networks coming up. Outdoors, faith-based, etc. The current huge players (MySpace, Facebook, etc.) are broad spectrum. But the innovation right now is encouraging either segmentation within these larger players or via niche networks. Seeing what has happened on top of Ning is interesting. Lots of niches.
Content is often a defining mechanism to create these networks. Flickr, del.icio.us, YouTube all create social networks. However, this will also start to go into lots of niches around particular kinds of content.
Media & Brand Integration
There are also lots of interesting things happening where large media and large brands are trying to integrate with social networks. Obviously, there's a powerful combination when you can take a source of people (media) and combine it with an appropriate niche network and allow large brands who are interesting in reaching that audience. Lots of deals are going to be done in this way.
One of the examples that was discussed by one of the panelists was MyCoke.com. It was pointed to as an example of a social network. I am not that familiar with MyCoke, but I was bold enough to say that I thought "MyCoke got it wrong." My reaction to MyCoke is that they have some pretty good content on the site, e.g., some very listenable music, but the reality is that people are unlikely to really go spend much time in that destination as a separate island. Certainly, going and signing up for MyCoke is difficult. The destination should be something else with heavy integration of Coke branding. They clearly spent lots of time and effort, and the reward is just not going to be there for it. Which brings me to the other thing I discussed...
Big Challenge
There's a constant challenge that we continually face. We have a niche or content that we believe would inspire people (who are already out on social networks) to collaborate. Our choices for what we offer them all have major downsides:
1. Create a new destination
The big challenge whenever you create a new island that represents your community is that there's overhead for the people involved. It's is hard for people to justify the investment to integrate themselves into your community. Am I willing to establish myself again in this new environment? This barrier makes it hard to achieve critical mass.
2. Leverage an existing platform
We've created Facebook applications and used Ning. While this greatly reduces the effort for most users and gets you there more quickly, you don't really own this audience and it puts big limits on what you can do.
Certainly, what we are seeing with OpenSocial and DataPortability represents a possible future state where we can avoid some of this issue. If we could focus on building our "destination" on top of a set of open protocols that provide us with the social graph for users but that allows us to control our destiny, I believe that's the right model in most cases. It reduces friction for end-users and still gives us the leverage you want.
If you think about this abstractly, the goal is for all of us to provide grouping and content as a layer on top of a general social graph platform. Each of these destination represents a fluid grouping which is the most natural mechanism in a networked world.
The problem I have is that this isn't here today ... What do I do today? It's a big challenge...
Tony Karrer's CTO perspective on startups. Link to original post
Other Posts by Tony Karrer
Equity for Early Employees in Early Stage Startups - September 28, 2011
Startup CTO Resources - September 19, 2011
32 Questions Developers May Have Forgot to Ask a Startup Founder - August 4, 2011
Branchout and Facebook: A Case Study in Viral Spread - June 15, 2011
Getting Started with a Two-Sided Market Business - January 31, 2011
Is the cost of employee insurance killing your business?

... presents Rising Costs and Unclear Mandates: How to Contain the Growing Cost of Employee Health Insurance Ebook
Sponsored by

How does MyVenturePad help you?
“Entrepreneurs need inspiration - Myventurepad offers this in spades. There are always new, insightful articles that keep entrepreneurs inspired.” Jim Estill
Jim Estill is a partner on Canrock Ventures and sits on the board of RIM (Blackberry). More »
Steve King is a partner at Emergent Research and a Senior Fellow at the Society for New Communications Research. More »
David Thomson is founder and Chairman of The Blueprint Growth Institute, a specialized management-consulting firm focused on helping.. More »
Phil Wainewright is a thought leader in cloud computing as a blogger, analyst, and consultant. More »
Barbara Weltman has written more than 25 books on entrepreneurship. More »
- YOU
- Ardath Albee
- Tac Anderson
- David Armano
- Peter Auditore
- Jonathan Salem Baskin
- Kay Bell
- Shashi Bellamkonda
- Tim Berry
- Bud Bilanich
- Danny Brown
- Kate Carruthers
- Paul Chaney
- Jeff Cornwall
- Ross Dawson
- Krishna De
- Niall Devitt
- Chris Dixon
- Jim Estill
- Mark Faggiano
- Brad Feld
- Seth Godin
- Michele Goetz
- Holly Green
- Lisa Haneberg
- Gavin Heaton
- Andrew Hunt
- Bill Ives
- John Jantsch
- Jeffrey Kaplan
- Tony Karrer
- Nina Kaufman
- Daniel Kehrer
- Steve King
- Joe Kristan
- George Lenard
- Joey Lo
- Tushar Mathur
- James Maule
- Dan McCarthy
- Becky McCray
- Les McKeown
- Drew McLellan
- Alen Mejer
- Barry Moltz
- Jacob Morgan
- Debra Murphy
- Jeff Nolan
- Tom Pick
- Skip Reardon
- Frank Reed
- Steve Roesler
- Zane Safrit
- Pamela Slim
- Dave Stein
- Greg Verdino
- Barbara Weltman
- Barbara Weltman
- Albert Wenger
- Fred Wilson
- David Zinger

About Social Media Today





