Huffpost Technology

Social Media Is Hot. But Can It Help The Economy?

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The economy may be troubled, but one area is thriving: social media. They begin with Facebook and extend through a dizzying array of companies that barely existed five years ago: Twitter, LinkedIn, Groupon, Yammer, Yelp, Flickr, Ning, Digg -- and the list goes on. These companies are mostly private but have attracted the ardent attention of Wall Street and investors, with Facebook now worth a purported $75 billion and Groupon valued at close to $25 billion.

There can be little doubt that these companies enrich their founders as well as some investors. But do they add anything to overall economic activity?

Read the whole story at TIME

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