Week 13 Mostly Muddy-Social Media

This was a pretty tough week. I am not sure if it was the information actually, or trying to play catch up from last week (Easter) to get everything dine on time and just not feally focusing on the information. Nonetheless, it just didn't stick this week.

We read and watched a lot of lectures this week and a lot of information stuck, such as Network Effects, which is, the number of devices that are networked together that increases the value. We also learned about the three primary sources for Network Effects:

1. Exchange-the ability of users in a network to exchange information.
2. Staying Power-the long-term viability of a product or service.
3. Complementary Benefits-products or services that add value to a product.

Another term we learned is Metcalf's Law, which states: the value of a network is proportional to the square of the number of users (or # of connections that can be made).

Image Created by: Marco Paköeningrat http://www.flickr.com/photos/marcopako/2391747442/

Image Created by: Tiago Custódiohttp://www.flickr.com/photos/tiago_custodio/3329194516/

Image Created by: ipodfan1 http://www.flickr.com/photos/29158929@N03/2767975617/

I really do feel that Social Media is here to stay, at least in its current form, for at least a few more years. There is no doubt that it will still continue to evolve into something much more real soon. If you look at recent trends in technology, you don't need a crystal ball to predict that something big is on the way, and I feel it will really revolutionize and integrate social media and business into everybody's daily lives'.

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