Social Media Capital: Soon to Replace Financial Influence?

In a video created by INC, the founder of Delphi Group, Thomas Koulopoulos, “says social media influence will soon replace financial influence.” (FYI WordPress is not letting me embed the video, but its well worth watching!) He presents a controversial, almost radical view of social media: we are fundamentally at the very early stage of understanding what social media truly is and how we can use it. I summarized his points below:

social_media_monopoly_board4

With social media currently, we only see glimpses of future opportunity for innovation and entrepreneurism. Whether you like or don’t like social media, we all must face the fact that it has potential to change the world. Its a powerful tool to which a single person’s voice can be amplified, and this will therefore create a new form of currency in our future.

Currently, if someone wants to make big changes to a company, a government, a policy, etc, the person needs monetary wealth to influence. Sadly, we view other people’s power through their financial worth. This is changing. Pretty soon, the influence of the individual, not wealth, will determine a person’s “capital”. An individual’s social media influence will become the new currency of power.

Koulopoulos mentions the Arab Spring, and the role that social media is playing in organizing a movement for change. Social media is changing the course of political history in the Middle East, and will continue to grow to be an even more powerful tool. In summary, the world is changing and social media is playing a bigger role than we think.

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This entry was posted in Activism, Innovation, Social Change, Social Media, Uncategorized and tagged , , , . Bookmark the permalink.

One Response to Social Media Capital: Soon to Replace Financial Influence?

  1. sydhavely says:

    This is a post worthy of class discussion and please bring it up Tuesday. You raise lots of good points about social media and its use as a social change tool.

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