Social media is content created by people using highly accessible and scalable publishing technologies. At its most basic sense, social media is a shift in how people discover, read and share news, information and content. It's a fusion of sociology and technology transforming monologue into dialogue. Also, it is a democratization of information that transforms people from content readers into publishers. Social media is extremely popular because it allows people to connect in the online world to form relationships for personal and business (Wikipedia, 2009).
Social media is growing rapid everyday with sites and tools like RSS, Blogs, Wikis, Social Bookmarking, Delicious, Google, Twitter and Facebook. Social media can be very beneficial, for example, Delicious is a social bookmarking site that allows you to save your favorite bookmarking. You will be able to access the bookmarking from other computers, not just your own. Also, it allows you to share your bookmarking with other contacts, which are categorized by tags. In addition, social media can also help you find a job. For example, one can create a fan page or group in Facebook about the industry that one may be interested in or connect to people and get testimonials. There are many ways that social media can be beneficial, but done in excess, can be detrimental to one’s life. I believe that with the whirlwind of innovation and creativity in social media, it is easy to lose sight of the need for balance between the online and real world. You still need real world interaction. With using anything in excess, one must find a balance.Advantages of Social Media:
· Relationships and conversations
· Creativity and remix culture
· Embrace your passion and identity
· Community, sharing and connecting
· Increase transparency in government and organization
Criticisms of Social Media:
· Lots of great content still gets over looked
· Writers have problems delivering content consistently
· Anonymity can engender polarization and hate
· Information overload and social networking overload
· Work/Life balance is hard to achieve
http://compassioninpolitics.wordpress.com/2008/02/01/advantages-and-disadvantages-of-social-media/
http://www.slideshare.net/pkitano/twitter-friendfeed-080602 (slideshow)






The Prospect Theory was created by Amos Tversky and Daniel Kahnmenen (pictured left) in 1979. According to the Prospect Theory, people value a certain gain more than a probable gain with equal or greater value, while the opposite is true for losses (see fig. 2). Furthermore, the discontentment associated with the loss is greater than the pleasure associated with the same amounts of gain.


