The current financial crisis kind of reminds me of what social media is all about. While this might be a strange statement to make, let me explain.
Back in the 80′s, there was what was known as the “yuppie movement” (at least in the UK – I’m not sure if the phrase made it over the water). Short for “young upwardly mobile professional”, the term represented everything that was bad about greed and personal selfishness.
That’s not to say that all yuppies were greedy, but generally the majority stood for all the negative aspects of capitalism gone mad.
It was a case of “I’m in it for what I can get and only for me” – basically looking to see where the next big deal would come from and who cares if someone gets screwed over in the process. This malaise may have continued if it hadn’t been for the massive stock market crash of October 19, 1987 – Black Monday.
The result of this crash was that the whole money-over-everything attitude pretty much disappeared as humility and stark reality took over. For the next few years, it seemed as if people had learned lessons and were instead using an “I’ll succeed by helping others” approach.
Yet over the last few years, particularly in corporate America and the UK, the greed factor of the 80′s seemed to be creeping back in. Large companies and the CEO’s that presided over them seemed to be more about what could be taken from the company. Just Google the likes of Enron, WorldCom, Barings Bank and BCCI for examples.
The result? Today’s financial mess. Companies that were propped up by false reports crashing down to Earth. Leaders without a clue – or with bulging wallets after kickbacks? – allowing the economy to disappear into a meltdown situation. So, getting back to my opening statement, why does it all remind me of social media?
Simple – because social media has the opportunity to show the corporates how to really build a business model that we can all benefit from. Instead of being out to get everything we can, the proponents of social media are actively helping and encouraging growth with other like-minded people.
Users of social media sites are using their blogs to offer free advice and tips to help other users succeed. They’re organizing podcamps and similar seminars (offline as well as online) to ensure that everyone is getting the most out of this new medium. They’re openly discussing do’s and don’ts in forums and chatrooms. Simply put, they’re being social.
The result of this is that there are more people with the knowledge and confidence to go into business for themselves, knowing that they’ve built up a wonderful network of contacts that they can fall back on for advice. Or they’re taking this new-found knowledge and support network back to their full-time jobs and increasing their use to the relevant company.
No longer is it, “I can’t help you” – now it’s “I can’t help you but I know someone that can”. And as social media matures and comes more into its own, this network of help, knowledge and encouragement will only get stronger and more relevant.
Now if only the people that make the decisions would join the party.
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The question becomes whether all this helpfulness will move us all forward. I believe it will, else I wouldn’t be doing it all the time. In my estimation, the rising tide raises all boats. I’m just hoping that some of the boats I help remember me when mine is scuttled.
It’s definitely an interesting premise, and I think giving is certainly one way to get out of the problems we’re in. But only one. The rest require all kinds of hard work and a lot of soul searching and suffering.
Chris Brogan…´s last blog post..25 Ways Social Media Prepares You for the Downturn
Excellent observation. Whereas in times of financial crisis, the world seems to adopt an “every man for himself” attitude, social media seems to come together in spite of adversity. The more the stock market tumbles, the more information, advice and expertise is being shared among communities online.
As you say, the ultimate question is getting the ones with the deep pockets to realize what’s happening and take advantage of the wisdom of these communities.
(And yes, we had Yuppies on this side of the pond, too!
Susan Murphy´s last blog post..Let It Be
Thank you – It’s as if you have written what i’ve been trying to express. And a great job of the writing also. Worthy of reading again and posting everywhere even in Print media. G
@ Chris. I’m sure with all the help you continue to give to so many people that your boat will never be scuttled – but if it is there will be a lot of life-belts coming your way.
I completely agree – while the giving is only part of the equation, it’s certainly a step in the right direction if we all want to move forward and make the world a better place all round. Of course, we’ve been “giving” to the suits for a long time now… but that’s another story! 
@ Susan. It does seem strange that the people offering the help and support that the powers-that-be seem to be sorely lacking are the ones who the Government either ignores, or cracks down on with increased regulatory powers. Perhaps if they trusted and actually looked at the online world properly, as opposed to thinking it was just a breeding ground for anti-authority statements, they’d get somewhere.
@ Gwen. Thank you so much, Gwen, I really appreciate your kind words. Maybe I should transform it into a mantra and make my millions?
Thanks for reading and sharing your views, guys, appreciate it all.