11.08.06: At Web 2.0, Schmidt denies legal fund rumors, competition with MSFT

I love the McLuhan quote.

If you read the comment streams on blogs, it's usually not a conversation.

It's usually what an old boss of mine used to call "parallel independent conversations" which is very much in line with the notion of two-way publishing.

Question for me is: is it sufficient and to the greatest benefit for legal frameworks to simply consider social media as publishing, or should they adapt to consider a new category - something like a 'permanent conversation'?

The Microsoft deal with Facebook included an advertising deal--the $240M was for a share of the company and for the ad deal.

Thus, saying they bought at a valuation of $15B is significantly inaccurate.

I don't think so, press release is still one of the most effective, and yet, most underutilized, of publicity tools. Simply put, a press release is an announcement you send to magazines, trade journals, newspapers, and newsletters.

George, sarcasm sometimes gets lost in translation, my apologies.

The Chinese governement has this stigma attached to it, basically don't mess with them. If google is mad enough to take them on, I wouldn't put it past them buying google and sacking the moron who made the decision.

And that significant lead will result from...adding something Apple has already added?
And that make sense to you?

Eric, What's wrong with making a reasonable profit as a news organization? I agree with you that there is a race to the bottom going on because the econopmics of online news continue to worsen.

Gabe: You should get a press pass and if you don't, you should ban SXSW stories from Techmeme. (SXSW gets very noisy, you'd be doing us all a big favor :)

Money is neither noble or ignoble. It is value-neutral.

Danny: I agree... But press passes aren't free this year. They cost $299. Gabe can afford $299.

Eric: What's so noble about a non-profit status in regards to news organizations? What's so noble about relying on handouts from billionaires to produce local news?

If we can develop profitable news business models then we will have competition, and that is good for news, good for everyone.

While I'm no fan of the way the BANP has acquitted itself thus far, your comment that "There's plenty of 'non-profit' media businesses around, the largest local one is the San Francisco Chronicle." is glib to the point of meaninglessness.

Free the Gabe 1! The Techmeme 1?

Seriously, if there are any TV editors getting passes, then Gabe should. Press isn't just defined by writing stories.

It is "underground" now because the consultants are pretending Social Media is a big "secret" worth $22K/ day (see my post on this - Is Chris Brogan Worth $22K?http://micurl.com/wpFeo)

I think many PR/communications professionals are still getting their heads around the new media world order. What's surprising here is this happened at SXSW.

Judy, yes, it is a new mdoel but is it already broken? One of my contacts told me that there is a lot of social media marketing going on but that it is underground. I thugh that the point is for it to be seen, rather than be 'underground.'

Ted: Yes, I agree, some big roll ups on the way. Every week I'm introduced to yet another successful ad network I've never heard of, with tons of people and VC money. They have the upper hand right now, but ad networks are not a sustainable business long term, imho.

I agree re the sophisticated news consumer. Note that this consumer is probably more likely to respond to the news in some way as well.

Tom,

My biggest beef with the Poynter Online piece is the implication that auctions only work well for high priced goods which strikes as basically ridiculous.

In addition, I concur that the notion of creating artificial scarcity will not work either.

Actually Tom I disagree. Social media does work at promoting products. What you miss is a mature marketing approach to social media.

I personally could not find a social media agency - I did find lots of "social media consultants".

Guy: I like that Drucker quote.