Random thoughts about APOC and other issues

Friday, April 2, 2010

Could Social Media Revive the U.S. Economy?

There's little doubt of the effect that social media has on existing businesses. For instance, Yelp.com has done miracles for local businesses and we know how YouTube and Facebook could make or break a brand. But can social media drive the recovery of the U.S. economy?

Latest report: The economy adds 162,000 jobs in March

This is a chart of Social Media related jobs growth in the past years. The graph stops in 2008, so I'm sure the growth is even more impressive now...



The jobs have increased +300% from 2005 to 2008. This is great news for social media enthusiast like us. Facebook could be worth 100 billion in 2015, according to some analyst. This is only one company. Google is currently valued over 135 billion. With those type of numbers, one wonders how powerful these companies are getting and how many jobs they can create with their net profits? I think they can do a lot, not counting the new services or strategies that they bring to improve the growth of existing companies (i.e. how Realtor.com benefits from Google maps). Could this be just the beginning of a huge economic boom?






1 comment:

  1. Yes, truly great news for us and also for the U.S. economy, social media introduced an unprecedented way of connecting and organizing people and saved up enormous cost that would have been invested in that before. Even though social media has also brought new challenges, but without doubt it has prompted tremendous amount of energy into society and the economy.

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