The Social Economy: Unlocking Value Through Social Technologies

There are over a billion people on social media today. It has completely taken over the way we do things and broadcast news and messages. 

There are various advantages and disadvantages of social media.

To list a few advantages; easy and effortless communication anywhere in the world, sharing political and worldly views and reaching a broad audience with ease.

There are 5 main advantages of social media and each one comes with a disadvantage, how ever the advantages usually over ride the disadvantages.

1. Worldwide connectivity

Individuals are able to stay in contact with any one at any time anywhere in the world. These connections can help with various things; finding romance, job applications, seeking assistance, assessing news in real time and finding support from like minded individuals.

2. Commonality of interest 

When you opt to participate in a social network community, you can pick and choose individuals whose likes and dislikes are similar to yours and build your network around those commonalities. Sites like Pinterest are great platforms for sharing ideas with like minded people.

3. Increased Cycle-speed

Social networks has increased the news cycle speed drastically. It has made news instantaneous and opens up a platform for real time news sharing and discussions. 

Some of the disadvantages...

1. Risk of fraud and identity theft

The information you post on the Internet is available to almost anyone who is clever enough to access it. Most thieves need just a few vital pieces of personal information to steal your identity. 

2. Cyberbullying and crimes against children

Use of social networks may expose individuals to other forms of harassment or even inappropriate contact. This can be especially true for teens and younger children. Unless parents diligently filter the Web content their family views, kids could be exposed to pornography or other inappropriate content.

 

3. Backlash

When sharing online there will always be people who disapprove of your views. And there is no way of stopping them from saying what they think online.