05/04/2012 06:21 pm ET Updated Dec 06, 2017

WATCH: 60 Seconds of Social Media

The Internet isn't just lolcats and high-tech acquisitions anymore. A lot of people are working hard to harness the power of social media for social change around the world. In this week's episode of "60 Seconds of Social Media," we'll look at how people are using social media to raise awareness and funds for causes.

Earlier this week, I moderated a panel on the subject of social philanthropy at the Milken Institute Global Conference in Los Angeles. Panelists included Eric Dawson, Co-Founder and President, Peace First; Abigail Falik, Founder and CEO, Global Citizen Year; Kimbal Musk, Co-Founder, The Kitchen Community and Max Schorr, Co-Founder, GOOD.

If you want to learn about the next generation of philanthropists and social entrepreneurs, you can watch the entire session online.

And in our Social Media Shorthand segment: "UGC," or user-generated content.

Did you miss last week's episode of "60 Seconds of Social Media?" Check it out here.