Sunday, November 29, 2009

The Web Economy

Mashable, "the world's largest blog focused exclusively on social media news," has quickly become one of my favorite blogs. Pete Cashmore does a great job providing helpful news and information for utilizing various forms of social media, as well as technology in general.

In a recent blog post entitled, "Twitter Ads are Evil: Here's Why," he explains what he calls the "web economy." According to Cashmore, the web economy is built on trust and attention. He says that "Brands need to befriend us, build relationships, and offer so much value that we broadcast our positive experiences out to our own networks of trust. They might entertain us. They might help us. They might become enablers of our own personal goals. And when they do, we’ll return the favor. 'Spend your attention on this', we’ll say, 'It’s important!'"

Before reading this, I hadn't really considered the power and influence individual consumers have thanks to the internet. I'm not entirely sure what to make of it at this point, but I thought I'd share this in the meantime.

What are your thoughts? How have you seen this in action?


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