Newshour: the state of Facebook and social networks

Australia Network’s Newshour program recently ran a segment looking at online social networks, in particular Facebook.

The program features a number of excerpts from an interview with me about the online social network industry.

Here is a brief summary of the key points made in the interview:

* How Facebook has been used to promote Sydney as a tourist destination, resulting in a 276% increase in working holiday visas applications for Americans

* The popularity of social networks was foreseeable (and foreseen), fulfilling a human desire to connect

* Obama’s election campaign redefined both political fundraising and how social networks are perceived

* In building profitable social networks, there are limits to the advertising model however a range of new models are being explored