Economy of Social - Social Media Tips, Marketing and Business

Facebook released its first ever transparency report . Colin Stretch, the Facebook general counsel said, " We scrutinise each request for legal sufficiency under our terms and the strict letter of the law, and require a detailed description of the legal and factual bases for each request. We fight many of these requests, pushing back when we find legal deficiencies and narrowing the scope of overly broad or vague requests. When we are required to comply with a particular request, we frequently share only basic user information, such as name. " The top 5 countries included U.S., India, U.K., Germany and Italy (below). Surprisingly among these five countries, India had the least amount of requests per million users on Facebook. Germany was the highest with 73 requests per million Facebook users. United States was also significantly high considering they have over 180 million Facebook users.

I just saw an advertisement stating "Create a Facebook Profile. Signup for free today!" I read a huge interview of Mark Zuckerberg in the  newspaper today  (his first interaction with an Indian publication). An excerpt in his interview quoted him as saying " With 82 million monthly active Facebook users in India and a comparatively small Internet subscriber base, we have a long road ahead. "

I am NOT a BIG Proponent of BIG data for business use especially in identifying consumer behavior. It has a lot flaws that are being neglected in the present big data narrative. The interesting part that most of us neglect is "How is it useful?" It tells us what people are doing. Inferring why they are doing is up to the skill of the researcher and that is where most people fail. To give a short example it was only a few economists including the now famous Nouriel Roubini who predicted the 2008 recession. While all economists had access to the same data, most of them failed. There were cases where the predictions were almost divergent.

Indian Social Media is full of young people who are chilling out and having a gala time. To put this in a more serious way here are some numbers

This is a goof-up of the worst kind. Domino's apologized to a fan who appreciated them for their Pizza service (image below).

Companies Bill passed in the Indian parliament, and changing consumer trends are set to fuel the next wave in the domain of sustainability. One of the biggest challenges in sustainability till now has been the unwillingness of consumers to pay more for goods that took care of the society. The products that did well did so by providing greater economic advantage such as the Prius or CFLs.

I recently was part of an offline meet called D-ART initiated by my organization that intended to bring together artists on one platform. This chat made me come across the " Delhi Food Walks ", an initiative to give an experience of Delhi Street Food by bringing them together for a walk.

The problem with people today is that they want to become someone but they are less bothered about doing something. Many people say that they want to doctors, engineers, CEOs, superstars, actors and millionaires but care less about the work, the indirect consequence of which would be what they want to become. link