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A quick scan of my google reader shows a lot of activity in the social networking / social media / social technology area. A few established sites have reached critical mass. Many many startups are coming up with a re-hash of the same idea or with ideas which have small incremental worth. I see an interesting trend here, just like the first wave of dot coms. The lessons from then are worth applying to the situation of today. First, there are many trivial ideas which are getting funded - the next bubble will take care of them.

More importantly, companies and enterprises are struggling with how to best leverage the boom in social media. I think they are missing the point here, just as they did before and are too slow and bureaucratic to catch up. For example I came across this interesting presentation where the CIO of INTEL spoke about their approach towards social technologies. There is a lot of learning needed here. But it is evident that the empowerment through social networking will be pervasive.

I also believe that there are many improvements needed with the way social networking happens today. Personally I am already wary of the personal / consumer networking trends: invasive privacy policies, cluttered interfaces, no easy to export your contacts, multiple sign-ons, invitations from complete strangers and annoying ads. But thats my personal gripe and perhaps related to my age! Apparently tens of millions of other much younger enthusiasts don’t care.