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Social Media in Plain English by Common Craft

When will Ben&Jerry's start selling personal table-size ice cream factories?

This video neatly straps down three major points about the economic effects of social media (says my professor at Copenhagen Business School):

1) Products get better without added costs because feedback is free and high-quality
2) Viral marketing is cheaper than adds
3) Customization leads to better services

Now, how does this affect sociology? Whereas the latter 2 points might not bring more than manipulation and fragmentation to the table, the first point seem truly valuable: Are we witnessing the early materialization of an aggregated common will? Are social media getting us closer to a range of ice cream flavours that everyone think is reasonable? That's the question.