Social Networks are a Ponzi Scheme of Friendship

Are you getting tired yet of the term Social Media or Web 2.0? Have your friends convinced you to join Facebook, LinkedIn, Twitter or some other social networking site? The truth of the matter is that Social Networking is a giant ponzi scheme.

When you first join a social network you start with only a few friends. It could only be your only friend is the one who convinced you to join.  The network typically has no real value until you add more friends and invite them to join.  Many networks will try to harvest your entire contact list in an effort to increase its membership.  So, you Email your friends and family and there’s a new layer of friends supporting the pyramid and the cycle begins again for them. Soon, you reap the benefits of “Friend of a Friend” and the network begins to have value.  As long as there are new users to join the network will be a success.

I don’t know if this is the year we’ll peak with social networks but they’re certainly hot.  According to Pew Internet & American Life Project, 11% of online American adults are now using Twitter. I’m not sure what defines an “online American” but I know I’m one of them.

I mentioned before that I am “Twitterpated” and you can follow me at http://twitter.com/BillP. I also have a WinPatrol information feed at http://twitter.com/WinPatrol that currently has 75 followers. You’ll me on LinkedIn,  Facebook  and you can read why people love WinPatrol on my Fans of WinPatrol page.  It’s only been active a couple weeks and we already have 143 members.  Click below to join. 

WinPatrol on Facebook

Now This is Important
You don’t have to be a member or participate on Twitter to benefit from its huge network of Tweeters.  Search.twitter.com  has become the Google of real-time and current information. Most news organizations are using Twitter to research stories.  When US Airways flight 1549 splashed down in the Hudson I heard it first on Twitter. While on board a ferry racing to the scene, @jkrunms shared a photo taken by his phone via Twitter. Before ABC announced this years line up for Dancing with the Stars, I already had the list from folks on Twitter. It takes Google some time to index the world wide web so if you need immediate info I recommend adding Search.twitter.com   to your favorite places.

Follow @BillP on Twitter!

As Phil Collins sang,  You follow me, and I’ll follow you or was it the other way around?