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There would be some annual presentation called the State of Social akin to Meeker's Internet Trends Report, or perhaps it would be a fifty page sub-section of her annual report.ĭespite this, most of the social media networks we study generate much more social capital than actual financial capital, especially in their early stages almost all such companies have internalized one of the popular truisms of Silicon Valley, that in the early days, companies should postpone revenue generation in favor of rapid network scaling.
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If we had better measures besides user counts, this piece and many others would be full of charts and graphs that added a sense of intellectual heft to the analysis. The body of research feels both broad and yet meager. We have no such methods for measuring the values and movement of social capital, at least not with anywhere near the accuracy or precision. Entire websites, sections of newspapers, and a ton of institutions report with precision on the prices and movements of money. We have longstanding ways to denominate and measure financial capital and its flows.
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Numbers lend an air of legitimacy and credibility. I begin with these two observations of human nature because few would dispute them, yet I seldom see social networks, some of the largest and fastest-growing companies in the history of the world, analyzed on the dimension of status or social capital. * Status-Seeking Monkeys will also be the name of my indie band, if I ever learn to play the guitar and start a band People seek out the most efficient path to maximizing social capital So wrote Jane Austen, or she would have, I think, if she were chronicling our current age (instead we have Taylor Lorenz, and thank goodness for that). "It is a truth universally acknowledged, that a person in possession of little fortune, must be in want of more social capital." It was only the return to typing almost exclusively on my old friend the Kinesis Advantage 2 ergo keyboard that put me back in the game.Įditor’s Note 4: I was recently on Patrick O'Shaughnessy's podcast Invest Like the Best, and near the end of that discussion, I mentioned a new essay I'd been working on about the similarities between social networks and ICO's. I believe all of you who say your main computer is a laptop or, shudder, an iPad, but goodness gracious I cannot type on a compact keyboard for long periods of time without having my hands turn into useless stumps.
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Without a work computer, I had to resort to using my 7 year old 13" Macbook Pro as my main computer, and sometime last year my carpal tunnel syndrome returned with a vengeance and left my wrists debilitated with pain. All that said, I apologize for nothing.Įditor's Note 3: I lied, I apologize for one thing, and that is my long writing hiatus. I put section titles below, so skip any that don’t interest you.
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My long break from posting here means that this piece is a collection of what would’ve normally been a series of shorter posts. Editor’s Note 2: I would like to assure new subscribers to this blog that most my posts are not as long as this one.