The Social Media Bubble

During the subprime bubble, banks and brokers sold one another bad debt — debt that couldn't be made good on. Today, "social" media is trading in low-quality connections — linkages that are unlikely to yield meaningful, lasting relationships.

Call it relationship inflation. Nominally, you have a lot more relationships — but in reality, few, if any, are actually valuable. Just as currency inflation debases money, so social inflation debases relationships. The very word "relationship" is being cheapened. It used to mean someone you could count on. Today, it means someone you can swap bits with.

Thin relationships are the illusion of real relationships. Real relationships are patterns of mutual investment. I invest in you, you invest in me. Parents, kids, spouses — all are multiple digit investments, of time, money, knowledge, and attention. The "relationships" at the heart of the social bubble aren't real because they're not marked by mutual investment . At most, they're marked by a tiny chunk of information or attention here or there.

Here's what lends support to my hypothesis.

Trust. If we take social media at face value, the number of friends in the world has gone up a hundredfold. But have we seen an accompanying rise in trust? I'd argue no. Now, perhaps it will take time for gains to be visibly felt. But social networks have already been around for half a decade, and society seems to be little better off.

External Source - For the complete article click here. Source - Harvard Business Review


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