First of all - i made a correction to the subject line (as you would have noted). As pointed out by my dear friend Harsha, "Social media is a farce" is indeed a very harsh title and i do agree that it has its own postives. Hence, i decided to place the word "farce" with the word "hype". Social media is a hype. Its like a bubble akin to the dotcom and has to burst in the very near future.
Lets take the concept of this so called "friend" first. Does having somebody you know in your "friends" list really make her your friend? I have many acquaintances but have only a closed group of people whom i really consider as my friend and hence important and influential. Advertising pundits claim that when a FB "friend" of mine recommends a product to me i will most certainly buy and it is this assumption based on which modern world corporates are spending millions of their advertising budget on social networking sites. The only thing i can do when i hear this is to laugh!! Aren't we doing the same mistake as what we did in the internet boom days?
Dotcom bubble also assumed that if we, as end consumers, get access to a virtual e-shop, we will prefer making purchases online from the comfort of our homes and offices. We assumed brick and mortar stores can be easily replaced by these virtual clickable stores. Companies went into a frenzy in building their own e-shops without giving a thought on sustainability of this model and we all know what happened in the early years of last decade. Dont you guys see a correlation?
I see and for me it is
Brick and mortar store = Your real life friend (made of flesh and blood)
Virtual clickable e-shop = People in your virtual "friend" list in FB
Any business model based on virtual unreal entities can never sustain itself and i have history on my side on this claim!
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