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

TIME:

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: TIME

Comments

[turboturd]

11:02 PM on 04/12/2011

er not the economy but definitely the rise in serial killers.

[whowhatwhywherewhen]

01:24 PM on 04/12/2011

Says social media to the economy...."You suck. LOL. ROFLMAO. BRB with #newideas, etc"

[Amanda Morrissette]

11:56 PM on 04/12/2011

Very nicely put. May I say LMAO!