Overtime as advancing technologies have changed and expanded the idea of networking, it has come into discussion what is the value of any given network. By definition, networks allow exchange of communication and information. So what gives a certain network of exchanges more value or leverage over another network? Theorists have been trying to explain and quantify the answer to this question for quite some time, even before what we know today as "social media" networks existed.
We discussed three laws in class that attempt to answer the question of network value: Sarnoff's Law, Metcalfe's Law, and Reed's Law. Sarnoff's Law simply equates a networks value as directly proportional to it's number of users. Metcalfe's Law determines a networks value by the square of it's users. I agree with Reed's Law most which states that the utility of a network increases exponentially with the size of the network. I believe that this law is the only which fully explains the potential power of social networks and various subgroups to connect at rapid rate. I am not sure where any of the laws get their exact numbers for their formulas, but I believe Reed's Law is the only one that appropriately estimates the rapid growth that occurs in social media networks and the hidden value in potential connections. You may not know someone on Facebook, but think of how the "suggested friends" feature suggests them to you because they are friends with someone you DO know. So there are almost endless possibilities for "suggested friends" and growing your network or connections at an exponential rate. That is why it is called "NETworking": because although you may not know someone, they may know someone that you do know, and thus by this hypothetical NET you are connected to them and may eventually reach out to them through this link. The value is in the exponential growth of connections and potential connections.
In five years from now, I see people continuing to retrieve their information at the same rapid rate or even faster than we do today. However, I am sure technology from which people retrieve their information will continue to become more multi-purposed, convenient, and user friendly. Whether that be a holographic screen and keyboard that changes sizes to fit our current needs and surroundings, or maybe we'll just think what we want to know and the answer pops into out head- nothing seems impossible anymore.
Photo:
http://www.teamhuber.com/wp-content/uploads/women-networking-photo.jpg
Photo:
http://www.teamhuber.com/wp-content/uploads/women-networking-photo.jpg
You had an interesting take on Reed's Law! I listed Sarnoff's Law as my favorite because of its simplicity, but I definitely agree with you that Reed was on to something when it comes to uncovering the hidden power of connections. It is definitely true that a person is worth more than just themselves, especially in today's time, so maybe with a less foggy formula, Reed's formula could be tweaked to help us accurately calculate value.
ReplyDeleteAn interesting take on the future. I like the idea of an answer popping into my head. Or, rather, I find it interesting. It also sort of horrifies me. Do you think that would be an invasion of privacy concern? Regardless, we are definitely going to see a marginal increase in information retrieved online, for better or worse. I say worse, but that may be pessimistic of me. I tend to believe that technology follows a pattern of human indulgence, rather than necessity. With more convenience will come more dependence
ReplyDeleteI also agree with your take on Reeds Law. It tests the hidden credibility of networks to give a much fuller evaluation. I'm sure there will be a continued information overload in the future. Like you said, the sky is the limit with future Information technologies.
ReplyDeleteI agree with what you said on Reed's law. It just makes sense right? You tell one person, they tell 2 more, those people tell 3 more etc. I don't think holographic screens will be a thing though. At least not like what you see in the movies. People will not give up their 4k screens for a see through blue hologram that flickers.
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