My Final Thoughts on My Initial Thoughts on Social Media & Digital Buisness

Before I jump in to this final blog, I want to thank whoever has been reading this blog over the past few months. Blogging is something I never expected to get into while at college, and it has been both a fun and challenging way to express my thoughts and opinions on the topics at hand. Their has been plenty of highs and just as many lows throughout this process, but whoever has read since the beginning, I hope you have seen a gradual improvement in the blog throughout the Semester. To all of you that have been here since Day 1, I thank you. And if you don’t understand the title of this blog, make sure to go read my first blog, and it will all make sense…

I figured an appropriate way to end the blog would be to due an ESPN top 10, in this case top 3, moments from the class, and then wrap the blog up at the end. Sit back and enjoy the ride, and make sure to point out all the grammar mistakes you can.

3- SnapChat IPO

Even though this topic has not been getting the same coverage as the other two. I believe this SnapChat IPO is going to be huge HUGE moving forward. Maybe because it happened so late in the semester, and nothing “official” has happened yet. But, I believe that this IPO is going to be as big as SnapChat’s social media rivals Facebook and Twitter. Even though one of those was a success story while the other crashed and burned I think this IPO is going to be extremely unique in the way it is marketed. 

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An IPO, expected as early as March, could value Snap at between $20 billion and $25 billion. The Wall Street Journal reported last month that the valuation could be $25 billion or more. The reason for the discrepancy isn’t clear. If Snap pursues an IPO at the currently expected valuation, it would still be the largest U.S. listed technology offering since Chinese e-commerce company Alibaba Group Holding Ltd. made its debut at a $168 billion valuation in 2014.

snapchat-ads

2- “Social Media” Election

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Social Media has played a significant role in the last few Presidential elections. But, it may have played it’s biggest role yet in our most recent election to date. With the underdog Donald Trump pulling ahead of Hilary Clinton to win an election that no one could have predicted. Trump’s use of social media throughout his campaign helped him pull off the impossible. But, could this all have been predicted if people were looking at social media instead of traditional polling websites in their analysis.

Trump himself has identified Facebook as a key element in helping him secure victory. “The fact that I have such power in terms of numbers with Facebook, Twitter, Instagram, etc.,” Trump said on CBS’ 60 Minutes on Sunday. “I think it helped me win all of these races where they’re spending much more money than I spent.” The president-elect specified that social networks helped him win without him needing to spend as much as the Clinton campaign on other advertising, both digital and traditional. “I think that social media has more power than the money they spent.”

In terms of social media’s accuracy over traditional polling sites, some may have been able to predict the unthinkable when most sites had the chance of Hilary winning at 99% (looking at you NY Times). Even the traditionally super accurate betting markets roughly split the difference, assigning him a 20% chance of victory. Using data from Facebook gauging interest in both Trump and Clinton in each state, helped determine the election. Trump’s performance on Facebook provided big clues as to where the public surveys were likely to misfire. With the benefit of hindsight, a time traveling statistician could have used the social media numbers to produce deadly accurate forecasts. Combining data from polls, Facebook, and Google searches, he could have correctly predicted 49 of the 50 states, missing only Wisconsin.

*and now we have this

1- Twitter

Everyone’s favorite topic week in week out. What we start every class talking about, whether it be from one of our tweets or whether the platform itself will still be online in the coming months. Twitter is the hot button topic that this class revolves around and each and every week something new and exciting comes from it.

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Twitter has seen a lot this semester. Starting with the early talks of a possible sale to a number of media heavy weights. With the likes of Disney, Sales Force, Google, and more looking to possibly acquire the platform. These talks led to little action however, with what thought to be an imminent sale collapsing and all possible acquirers ending up walking away empty handed. Times like these are when many thought the end might be near for Twitter. This was followed by the shutting down of it’s video sharing application Vine. While, Vine was thought to have a huge following, in reality much of it was smoke and mirrors tied to so called “vine stars”. When Vine’s operations suddenly came to an end, Twitter was thought to be at death’s door.

However, Twitter is still here today. Trying to find it’s own path in the social media landscape. Many have differing opinions on what Twitter will look like in the future, but right now it’s still a great platform to express your ideas, find out the latest news, and watch a Thursday night NFL game. I hope Twitter stays in business into the future, and much like this blog the best has yet to come.

signing-off

 

THE END

*when you realize its the last blog

4 comments

  1. alinacasari · ·

    Great post! I really enjoyed reading your final top 3 moments from the class. I’m really interested to see how things turn out for Snapchat. With their recent popularity, I am very curious to see where the IPO actually lands. The valuation seems huge to me, but if it happens that will be great for them! The role of social media in the election is something that I (and probably everyone else) won’t forget for a long time. I’m still in shock over the whole thing and the role social media played. From fake news spreading, to bad polls, and to filter bubbles the election results were just shocking. I’m really curious to see what turns Twitter makes in the future. It seems like their current model isn’t working as much as they like, so I wonder if it will completely crash or somehow prevail.

    Excellent last blog post! Huge fan of your video at the end too!

  2. Nice post. I confess I watched the whole ESPN clip.

  3. michaelahoff · ·

    Nice blog Doug. Great infographic on Snapchat, and it’ll be interesting to watch going forward if they’ll be worth the crazy IPO. I know Professor Kane is skeptical than they can make enough money just off advertising.

  4. Tyler O'Neill · ·

    Great post! I can definitely relate to your point that blogging has been much more interesting and enjoyable then I initially expected. I think you picked a great 3 topics to highlight in your final post too. Twitter definitely dominated discussion over the course of the semester (as it should have). Twitter was an integral part of every class and also was largely tied to the election and Trump’s absurd tweets. I also wish that we had spoken about Snapchat Inc.’s IPO a bit more, but I think that it’s just been a bit too early since the IPO likely still won’t happen for quite some time.

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