1. Cisco buys Tribe, acquiring the assets of the 8 person company according to Nytimes.
2. Reuters will launch a MySpace like community for financial people.
What does this mean?
1. Hype cycle starts NOW. If brand names like Reuters and Cisco are buying into social networks, then the beginning of the gold rush is officially NOW!
2. Social community investments are NOT being driven by ROI need or business justification, just Myspace envy
3. There has to be a better way to monetize the community “eyeballs” if so many folks are beginning to spend money on this.