Posts Tagged ‘Social Media’
“The nature and reach of social conversations in the investment arena.“
The above sub-heading is from a recent Post on Naked Capitalism that rather spookily comes hot on the heels of one of my recent musings. Here’s what I published on the 12th January although I wrote it on the 9th.
In the past opinion and commentary has been in the hands, more or less, of the giant media moguls. But technology has changed that. Now more than ever a huge people have access to the Internet. Indeed, a quick Google search reveals that of a world population of 6.85 billion people, just under 2 billion (29%) have internet access. In North America that percentage is 77.4% (226 million) and in Europe the percentage is 58.4% (475 million). I.e. nearly a billion people in just North America and Europe!
My point is that, in a manner never before experienced in human history, the vast majority of us have the ability to read, learn and muse about the critically important issues facing us today, coming to conclusions that carry political weight. We have almost infinite choice as to where and how we form opinions.
Thus having access, via the internet, to the scribblings of so many wise people may end up giving democracy the boost it really needs in the face of overwhelming powerful plutocratic forces.
Coincidentally, also on the 12th Yves Smith of Naked Capitalism published an article entitled, The 20 most influential blogs in financial media. You can find that article here. Here’s a flavour of what was written.
Thanks to Minyanville for publicizing this study by MindfulMoney on the nature and reach of social conversations in the investment arena. But even bigger thanks go to loyal readers and contributors for their frequent comments, leads, and critiques. The success of a blog depends on its community and I am very grateful for all the input so many of you have generously provided.
Perhaps the most interesting finding (boldface ours):
The research confirms the existence of a network of investment super-connectors with extraordinary media influence and reach. These super-connected new influentials are, for the most part, not well established voices in the media but individual bloggers who fiercely champion their independence….In the US, the network functions as the unofficial voice of Wall Street & the US federal bank with no mainstream media players at the centre of the network.
Given how many of these top blogs are critical of the status quo, this map may be hopeful sign that the blogosphere is beginning to become a important channel of discourse outside the reach of the PR machinery of major corporations and government entities.
And rather than publish all the top 20 names, you can see that list here, the top 10 are as follows:
1. Naked Capitalism
2. Infectious Greed
3. The Big Picture
4. Jesse’s Cross Roads Cafe
6. Mish’s Global Economic Analysis
7. Calculated Risk
8. Paul Krugman’s Blog
9. FT Alphaville
10. Ludwig von Mises Institute
Anyone interested in downloading the original report as published on the MindfulMoney website can go to the article here; the link to the pdf, requiring prior registration, is towards the end of the article. The article opens thus:
Most investors would acknowledge that social media is playing an increasing role in their investment decisions. Yet no-one has mapped the emerging network of influence likely to be playing a crucial part in those decisions.
Until now that is. MindfulMoney’s ‘Social Finance: The New Influentials” report is aiming to better understand what this network looks like and to see if a number of super connections, so beloved of writers like Malcolm Gladwell, exist.
The research indicates that they do.
As I said, to download the article you need to register first – that link is here.
It’s a very interesting new world that we are living in and one, I pray, that is returning real power to the electorates.
How often does a great conference on an emerging subject attract local, national and global participants to a quiet corner of the UK? Not often, I suspect.
Nevertheless last Friday, 2010 February 26, it happened again at LikeMinds 2010! The first time it happened was in 2009 on October 16th. Back in February 2009, two people met having got to know each other using Twitter, the popular social media tool/service. Scott Gould is a Devon-based web and experience designer. Trey Pennington is an American social media and business consultant. They met in Exeter and set the date for a half-day event which became LikeMinds 09. A local conference centre was the venue. People came from far and wide to became part of the inaugural gathering. Afterwards, they knew that they’d started something and felt the need to repeat it.
This time, just over four months later. More came to LikeMinds 2010, in the same relatively small venue. The same loyal bunch of social media specialists came back and brought more with them. There was more buzz and activity. This time, it lasted a full day and was followed by a business-oriented summit event at a prestigious location.
It was good to be there. It was good to meet new people. It was good to get a real sense of what is going on in human social communication. And all of this in my local city of Exeter, Devon, England.
There is more to come on this conference! But to give you a flavour, here is the talk by Chris Brogan … after I’d had lunch with him!
And, I am sure, more LikeMinds conferences to come.
By John Lewis
There’s a new power on the streets and it may make politicians feel very uncomfortable!
Like me, you probably haven’t heard of Greg Craven. I hadn’t until about 24 hours before starting to write this Post (that would be Friday afternoon, Mountain Time, on the 11th December).
I was doing some research for an earlier Post about Copenhagen and came across a YouTube video created by Greg. More details and links later after making a more fundamental point.
This video of Greg’s has had 2,704,000 viewings! The information on that YouTube ‘page’ has had over 7,500,000 viewings. Greg has now written a book and so on, and so on.
In other words, the personal message that Greg is conveying has reached an unbelievable number of people. That would have been impossible without the power and reach of modern social media software systems: YouTube, Facebook, Linked-In, Twitter, MySpace, Digg, at al.
In the past, information has flowed outwards in a much more ‘top down’ way. Hierarchical, as it is called. That has suited those that wish, in some way, to control the message. While individuals would always chatter and gossip with their peers, there was a finite limit to that before “Send reinforcements, we are going to advance” morphed into “Send three and fourpence, we are going to a dance”!
The example of Greg Craven shows only too well how information can now flow. Out of anyone’s control, spreading virally.
Having made my point, I want to return to the subject matter that Greg is championing – but will include that in a separate Post.
Politicians! Be very careful what you say. We are all listening now, in one way or another, and ready to pounce if we don’t trust your words!