2007 - The Year of Online Social Networks

As we approach the end of 2007, the start of 2008, and of course, the holidays in between them, I was yet again assured on how much of a difference a year makes in the technology industry. Every year, we see new technology advancements that become part of mainstream. 2006 was the year of user-generated content and I would call 2007 as the year of online social networks. In 2007, FaceBook launched its developer platform to propel the social networking into the mainstream. I had user ids on FaceBook, Friendster, and LinkedIn for the last few years but I only started using the social networks more regularly in 2007. May be I was late to the party, but I am sure, I was not alone.

The current proliferation of online social networks is a reminiscent of the Internet email in 1997. At the time, I was a sophomore student. The Internet email was a new phenomenon and to be honest I don’t even remember how many email services I had signed-up for. The few I remember were Hotmail, Yahoo, USA.NET, mailbox.com, mail.com, and a service from some company (don’t remember the name) that had let me create a @technologist.com-based email address, which was a very cool thing for a young undergraduate technologist at that time! Fast forward to today, I only use Hotmail, Yahoo and Google. I don’t even remember my user ids from other providers and don’t know if they are in business or not.

To make my point, if you look at the online social networking websites today, we are witnessing the same scenario. We have FaceBook, LinkedIn, Bebo, Hi5, Plaxo, Dopplr, Twitter, Google Reader Sharing, VodPod, and Yelp among many others that enable virtual networking of my life with my friends. I don’t logon to all these websites in the same way I didn’t logon to all of my Internet mail boxes in the late 1990s. Slowly but surely, through a natural selection process, I adopted Hotmail, Yahoo and later to Google email. I still use these three services as I like to continuously compare them to see which one brings me (a user) better features. I believe, in the similar fashion, over time the social network websites will consolidate and some will close down due to unsuccessful monetization models.

As I was writing this post, I had CNN Your $$$$$ program running in the background. I don’t remember who it was from but a Holidays gift advice from a program’s guest caught my attention. The advice was for the parents looking for a gift for their children’s teachers. The woman advised the listening parents to contact the parents of other children in the same class and pool the money together to give one good gift to the teacher. It was yet another aha moment in my life. Social networks could save money, help us select better gifts, and help companies to do more targeted advertisements? How? Just setup a community/group in a social network website that would enable parents to collaborate to select a gift for the teacher. And the targeted advertisement model of the social network website would show teacher gifts ideas. Am I taking it too far? Not really. Technically, it is all possible with the contemporary social network websites. The difficult part would be to have boomers or early generation X parents to use the online social network websites. Therefore, it may not become part of mainstream in the next few years. However, as the late generation X (including me) and generation Y people - who are very comfortable with the concept of online social networks - enter the parenthood, it will become part of mainstream because the use of the social websites to network with other parents to discuss the school lives of our kids will be a part of our routine life. Well, we shall see.