01-02-2012 19:30 Facebook, the world's leading social media service, filed papers with the SEC Wednesday to raise $5 billion and take the company public. Jeffrey Brown discusses its business model, its growth potential and some interesting revelations in the IPO paperwork with Nate Elliott of Forrester Research and Wired magazine's Steven Levy.
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Facebook IPO: Putting a Value on Social Media Giant - Video
When Facebook superseded Google as the world's most visited online resource in 2010 according to comScore, the trend was set for a significant period of social media dominance. Given that Google's considered response was to create its own unique social networking function, it became clear that the diverse and interactive nature of social media suddenly held the key to success for businesses, consumers and commercial interests alike. In fact, 2011 saw social media begin to influence the global investment markets, to the point where it is now playing a significant role in helping to determine trading strategy and stock value.
The Twitter Hedge Fund: Using Social Media Data to Enhance Electronic Trading
It is interesting to note that a recent study from KPMG found 70% of businesses now boast a clearly defined and integrated social media presence, while market leader Facebook boasts more than 800,000,000 active users. These users are making social media an increasingly significant part of their daily activity and decision making processes, with consumers utilizing brand pages and recommendations from within their network to help define their purchasing habits. Businesses have also followed suit, by analyzing the trends and behavior of consumers to help improve their own product or service accordingly.
This meeting of brands and consumers also marks social media as the single largest source of online data, and research conducted by the Universities of Manchester and Indiana in 2010 suggested that the scrutiny of this data could actually help to reveal stock market trends and movements. This notion encouraged U.K.-based company Derwent Capital to create what has become known as the Twitter Hedge fund, which during its first month of trading outperformed the established S&P 500 index by analyzing random tweets to gauge specific market moods. Its initial success encouraged other investors to adopt similar methods and start evaluating social media information for commercial benefit.
The Social Media Popularity Contest: How Fans and Mentions Can Also Boost Prices
Twitter is a vast resource of real time emotion, and the instant nature of emotive posts makes data mining far easier than it may otherwise be. However, what about resources that operate differently and do not boast the benefits of micro-blogging principles? While sites such as Facebook and YouTube do not offer commercial users the chance to articulate such succinct emotions, respective fan counts, likes and company page views can instead be used to predict the performance of individual stocks and markets with relative success.
The research that was conducted, which was influenced by the sentiment analysis tools used to assess Twitter as a data source, revealed that as specific company mentions increased across social media so too did the respective stock price and market performance. So, although the data provided by Facebook and YouTube does not offer the same level or nature of market insight as Twitter, it can be evaluated through different criteria to predict trends and mood. This may be especially useful in forecasting which markets are thriving, and, more specifically, where money is most likely to be invested.
Retail Trading: Taking Part in a Global Community of Investors
While utilizing the tools of social media to predict market trends remains an unpredictable entity, individual retail investors can rely on these resources to gain knowledge and actively share information. The ambitions of active online retail traders is diametrically opposed to those of professional practitioners, in so much that they thrive by interacting as part of a large network to share and gather ideas. As there is no more significant or far reaching network than that accessible through social media, it is a natural home for traders looking to build or become part of a community.
With Facebook's Zecco's Wall Street application allowing potential investors to like, track and buy their chosen stocks, and specialist online trading resources adopting networking principles to benefit communal users, it is possible to access a wider range of market information than ever before. Social media is also allowing individual traders the opportunity to interact with and follow investors who boast a similar portfolio, with a view to improving their craft and taking part in collaborative successes.
The Bottom Line
Refreshed from revolutionizing the way in which businesses market themselves and interact with consumers, social media is now having a significant influence on traders and the ways in which they choose to evaluate potential investments. Although the disorganized nature of the information accessible through social media must be intelligently filtered in order to be used effectively, there can be little doubt that the sheer volume of data holds significant value to individuals looking to trade successfully on the markets.
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The Power Of Social Media: Influencing Trading And The Markets
LOS ANGELES, Feb 3 (TheWrap.com) - From SOPA to Ellen DeGeneres, protesting keeps getting more social.
Thanks to Twitter and Facebook, digital agitation has entered the mainstream allowing people to affect change at a dizzying speed. Going viral is no longer reserved for cute puppy videos.
Social networking has moved into new areas of social protest, Tim Stevens, editor-in-chief of the technology blog Engadget, said Friday, shortly after Susan G. Komen Foundation reversed course on pulling Planned Parenthood funding in wake of a fierce social media protest. "It's not just techies anymore," he said. "It's people who are interested in women's rights and other civil liberties."
Susan G. Komen for the Cure Foundation bowed to blow back on Facebook, Twitter and other digital platforms on Friday. It apologized for its original decision to withdraw support for breast cancer screening at Planned Parenthood.
That viral protest ignited this week, around the same time as a social networking uproar sprang up against a conservative group's attempt to force J.C. Penny to ditch openly-gay spokeswoman Ellen DeGeneres. The Stand Up for Ellen campaign attracted thousands of supporters, who signed an online petition sponsored by GLAAD. That outpouring of support emboldened the retailer to stand by the popular talk show host.
These successful movements come on the heels of a stunning online campaign by technology companies and average citizens against two pieces of federal legislation, the Stop Internet Piracy Act (SOPA) and the Protect Intellectual Property Act (PIPA), that were seen as Draconian and censorious.
After millions tweeted and posted their displeasure on Facebook and sites like Wikipedia went dark, the Hollywood studios pushing the acts and their congressional counterparts were forced to go back to the drawing board.
"There's a new political and media ecology that social networking provides and it's not controlled by the mainstream media," said Andrew Rasiej, the chairman of New York Tech MeetUp, a key opponent of SOPA and PIPA. "It's controlled by citizens who are able to wield power at a speed that has the mainstream media, the politicians and the institutional players in shock."
Some of these causes would have inspired protests in the past, but the rate at which a movement materializes, intensifies and concludes has accelerated from years to months to, in the most recent instances, a matter of days.
"It's not just the agitators who are figuring out how to stage these eruptions of dissent," Clive Thompson, a columnist for Wired, told TheWrap. "The people on the other side, who are being agitated against, are now aware that they can't ignore this."
Not everyone is so convinced that Twitter and Facebook are the difference makers in these equations.
Writing in the Huffington Post on Friday, political analyst Andy Ostroy argued: "Let's not take away from the power of protest, and what we as citizens can achieve, by wasting so much time fawning over technology's role in all of it.
At the end of the day, it's the people who use Twitter and Facebook, just as they used other media throughout history to foment dissent and harness protest."
That may be the case, but before Twitter and Facebook got hold of them, SOPA and Susan G. Komen were hardly household names. In short order, they became public enemy number one for many socially networked people and the subject of articles and television segments across the media landscape.
"It used to be that social media would play off something that happened in the mainstream news, but that role has reversed and Twitter and Facebook have become the ringmaster that's setting the agenda," Rasiej said.
(Editing By Zorianna Kit)
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Social media at forefront of social protest
ORLAND PARK, Ill., Feb. 3, 2012 /PRNewswire/ -- Social Networking has long been known as an easy way to keep up with friends and family. Yet with the introduction of Timeline by the world's largest social network the whole concept of social media is suddenly modified as Timeline transforms profiles into scrap booking pages. With these constant changes and too many privacy issues making headlines a group of Facebook® users wanted change.
(Logo: http://photos.prnewswire.com/prnh/20120203/CG47536LOGO)
With some real ambition Friendio, Inc., an Orland Park, Illinois based company, was born. This new rival offers people classic social networking with strong privacy and popular features. "Friendio does not modify privacy settings, nor do we force people to create a scrapbook of their life," said Doug Freitag, the company's President. The site's slogan, "It's all about you!" really sums it up. People can customize profile layouts, change the site's theme to their liking, add music, insert Places, add company Pages and create their own circle of friends through custom lists. It's simple, easy to use, and makes sense. It's a way for people to further express their personal style, and share more about who they are.
Even more, the company has already opened their API to developers, allowing connection to the network from the outside for the development of apps. The 'Like Button' is already available to Website & blog owners. With this addition the network can quickly grow to a global scale.
People are flocking to Friendio and the site is booming. Although many people never heard of it until now they are sure to hear about it a lot more in the future. The company is a private corporation but has considered an IPO or private placement to further its reach.
To learn more visit http://www.friend.io where people can start inviting friends.
About Friendio
Friendio is a growing global provider of alternative social networking services and is synonymous with privacy. The company provides its members with convenient access on a computer or mobile device. With a growing brand and the ability to share with friends & family without the privacy concerns, Friendio's network holds the capability to serve millions of people around the world with a new way to connect, create and share.
Disclaimer: Facebook is a registered trademark of Facebook, Inc., herein incorporated for reference. Friendio, Inc. has no affiliation whatsoever with the company or its trademarks.
CONTACT: Doug Freitag, 1-866-932-0383, friendio@friend.io
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Note to Social Networking Giants: Friendio is Booming
By Rick Nauert PhD Senior News Editor
Reviewed by John M. Grohol, Psy.D. on February 1, 2012
According to a new report, innocuous personal information on social networking sites can be grounds for job dismissal.
While most prospective job searchers understand that employers will usually review a site such as Facebook before tendering an offer of employment, many are unaware that posting what would seem to be “normal” pictures or discussion may result in job loss.
The report, found in a professional magazine of elementary school managers, describes the dismissal of an educator because the social network site showed an individual posing for a picture holding a glass of wine.
According to background information found in the article, school administrators are facing a growing dilemma resulting from social networking that goes beyond preventing cyber-bullying among students.
Administrators also faced with balancing the rights of privacy and free speech of educators with what should be the appropriate behavior of teachers as role models.
In the article, published in the January issue of Principal Navigator, Janet Decker, Ph.D., said a large number of educators have been fired for Internet activity.
“Despite the evolving issues, the courts have not provided extensive guidance for administrators,” writes Decker. “Part of the difficulty is that technology advances at a quicker pace than legal precedent, leaving school employees and administrators unsure of their legal responsibilities.”
Decker’s article highlights cases that have landed in court as a result of school policies on social networking that “were not clear or effective.” The article also examines the law surrounding sexual harassment or abuse of students and freedom of speech for public employees and employee privacy.
“In general, it is important to understand that school employees are expected to be role models both inside and outside of school – even while on Facebook,” concluded Decker.
Decker’s article features the following 10 recommendations as she encourages school administrators to implement technology policies for school employees:
Educate! It’s not enough to have written policies; schools should also offer professional development about these issues. By doing so, staff is notified about the expectations and they have a chance to digest and ask questions about the content of the policies. Be empathetic in policies and actions. Administrators may wish that the school’s computers will only be used for educational purposes; however, an expectation such as this is unrealistic. Create separate student and staff policies. Much of the law pertaining to students and staff differs greatly. Involve staff in policy creation. This process will help school employees comprehend the policies and will also likely foster staff buy-in. Be clear and specific. Policies should include rationales, legal support and commentary with examples. Ensure your policies conform to state and federal law. Include consequences for violations in policies and implement the consequences. Provide an avenue for appeal and attend to employees’ due process rights. Implement policies in an effective and non-discriminatory manner. Amend policies as the law evolves. Much of the law related to technology is in flux. What is legal today may not be tomorrow.
Although the recommendations are directed toward an educational setting, the suggestions are appropriate for managers in a variety of professional settings. Moreover, employees of a business or institution must be knowledgeable on company policy to ensure compliance and avoidance of unintentional actions.
Source: University of Cincinnati
APA Reference
Nauert PhD, R. (2012). Online Social Networking May Cause Job Loss. Psych Central. Retrieved on February 3, 2012, from http://psychcentral.com/news/2012/02/01/online-social-networking-may-cause-job-loss/34323.html
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Online Social Networking May Cause Job Loss