Social Media is about people in a social environment linked to each other through a new medium i.e. web 2.0. That's it. Now companies want to capture this environment and establish a hegemony. Similar to the pursuit of hegemony by big countries (or one if you know where I am pointing to). Big corporations should realize that social media is more about people, than a profitable product. If you look at the new Facebook timeline, it clearly highlights the fact that people are building their identity projects on it.
Timeline is your collection of the photos, posts and experiences that help tell your story (or your identity project). If brands don't become a part of people's identity and melt into a culture, spending dollars on social media engagement or marketing is not going to work.
What fulfills the identity requirement of people to a greater extent: General Motors or Lance Armstrong? The answer is reflected in the amount of Facebook fans each has.
