I was asked this question recently by Twitter user @funding_tech and it has
had me thinking quite a bit today. About the nature of social media, social markets, social capital…what is this exactly and can you turn it into startup funding?
I propose that social capital, defined as:
“the collective value of all “social networks” [who people know] and the inclinations that arise from these networks to do things for each other [“norms of reciprocity”].
Source: Harvard Kennedy School
can be turned into startup funding.
Case in point: Facebook. Facebook is the powerhouse social media network across the globe, recently surpassing 1 billion users in a single day.
The recent earnings report highlights that there is value in a social network.
I’d expand this value a bit and posit that Facebook, Twitter, Instragram, etc., are social media banks unto themselves.
They are depositories of social capital and do pose significant value.
Stay tuned as I develop this out a bit further!
P.S. Please follow me on Twitter @rob_t_realtorco!