Facebook: a tale of two media models

What is social media – I mean, as opposed to plain old media? That's the unexamined question that will only become more pressing – and less clear – when Facebook shortly completes its IPO, with more and more people in plain old media feeling they ought to be in social media. And with more and more people in social media, with a $100bn or so of new liquid currency in the market, feeling it is the future of media. As it happens, the dual media have almost nothing in common except that they both occupy people's time and are supported by advertising. On the other hand, both try to pretend they are, or can be, like the other.

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