The impact of Web 2.0 and Emerging Social networking models

Straight from Davos comes this high-powered panel discussion on the impacts to individuals, businesses, and communities as a result of Web 2.0 and social networking. Described by Catrina Fake of Flickr as "participatory media", the panelists opine that Internet-based social networking is the next big thing on the web. Companies, such as Flickr, YouTube, MySpace, and Facebook, have each contributed to revolutionising the manner in which people can connect. However, Fake suggests that this phenomena is merely a return to the way the Internet was initially conceived - a place where people shared information and where a "culture of genorosity" prevailed.

Whilst the panel all enthused about the future, particularly for health care and education, significant concerns were expressed that they believed, if not addressed, could see a lessening of the beneficial affects of the impact of Web 2.0. In particular, suggested Commission Redding from the EU, was the issue of privacy, which is potentially compromised in a web 2.0 environment - particularly at the hands of politicians and autocratic leaders. Redding urged politicians to keep their "hands off the Internet" and act as "enablers" of Internet networks. Along with other members of the panel, who included Bill Gates from Microsoft, co-founder of YouTube, Chad Hurley, and CEO of Nike, Mark Parker, Redding stressed the importance of solving the ongoing issue of digital rights.

The TV broadcast runs for approximately 60 minutes but is well worth watching. Covering issues as diverse as policy, regulation and governance of the Internet, business models, trends, and sociology, the broadcast is informative for students seeking a broader perspective on the phenomena of social networking. For anyone seeking a strategic understanding of the direction of the Internet, as seen from the perspective of some of the industries thought leaders, this is compulsory viewing - and decidedly cheaper than traveling to Switzerland for the conference.