Forbes has been able to burst through from traditional/print/extinct media into the new/online/digital sphere quite easily. It’s because their content is phenomenal, and it’s their own. Nobody prints what Forbes does. Forbes is Forbes.
Today, the magazine released their newest video (er, opinion piece) about the Forbes 400, the annual list that lets you know who’s who and who you’d rather be.
Their question for you this year, which they will ultimately know and are just throwing out there to provoke you is: Has the social media bubble burst?
Their reason for this question is that several social media giants have taken a fallback in their earnings this year, most notably those at the top of Zynga, Groupon, and Jim Breyer, who’s a venture capitalist. Well, like anything, doesn’t that come down to the product? Who uses Groupon anyway? Have you ever been on Zynga?
(*Of course, this is a little contradictory to their statement on August 22: “Bubble Deflated, Social Media Will Now Change The World“. So, in case you’re wondering, Forbes is trying to sell magazines.)
Certainly, the explosion of social media profits or revenues (or, lack of) in the last few years has left the “industry” open to a possibly detrimental explosion, but does this say more about the individuals at play or the game as a whole?
Yes, Mark Zuckerberg took a hit when Facebook hit the open market, but wouldn’t any company with its entire net worth based on assumed value? Facebook isn’t a traditional business, so investors haven’t quite understood it.
But, it’s not going away, and neither is social media.
That is what you should be thinking about. And, Forbes knows this.