I’m not an economist. I took one economy class with a great professor named Mookerjee at Penn State but I’d be lying if I said his lectures weren’t like a warm blanket lulling me to the dream market. One thing that most people know about economics is that there are two key features: supply and demand. When supply is high, demand tends to slip. When demand is high, the supply often times struggles to keep up. It’s about creating that balance of consumer urgency but still having the inventory to meet purchasing demands.

The same science could be said for social networking. I can post my thoughts, as I am now, on my own personal web space. It will automatically also post onto my Facebook wall using my subscribed RSS feed. I can also advertise it using my Twitter account, messaging my friends (on Google Chat, AIM, Facebook Chat, ICQ, MSN Messenger, Yahoo, or Skype just to name a few) or a mass text message from my smart phone.

My point is, with so many ways to be connected, is the supply flooding the market? I suppose it depends on the product. Myself, while I am confident in who I am and what I can offer, I hold no realistic feelings that my thoughts are desired to be heard, let alone DEMANDED by very many people. (Although you are reading this right now…) Celebrity Twitter users are now commonplace and the novelty may has worn off, it’s reported that Twitter’s user growth seems to have plateaued. Defying all, however, Facebook has continued it’s mind-blowing growth.

The latest trend Foursquare, which allows people to check-in at locations using the GPS on their cell phones, may be over before it even reached its full potential with rumors swirling that Facebook could be working on a “check-in” system of their own.

How far away are we from a push of the button on your phone letting all your friends know your location, mood, and thoughts instantly? And then the next day, the big innovation will be that they take away the hassle of pressing the button.

This entry was posted on Monday, February 1st, 2010 at 6:51 pm and is filed under analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.