So is there such a thing as social currency? That is, a value to our social network connections?
I think there is.
This morning, sitting over a cup of good joe, I had occasion to think about this. I belong to Ryze, one of the early business-based social networking sites. It was started by a FOF and I've been on it for a while. Recently, I've started developing my network and even friendships. I met some fellow Ryzers when I lived in Paris and thought they were "tres gentile".
Today someone added me as a "friend" and asked that I add them. Normally, I would do so without too much pause. However I have recently been MLM'ed on Ryze--an unpleasant experience--
and was cautious. I always check out people before adding them to my friends list. Nothing like the prospect of adding an MLM'er to your "trusted" list of friends to introduce caution into the equation.
The guy has no page. No data on him at all and he's been on three months. It shouldn't be too hard to put in a few little tidbits and participate in a few discussions in all that time.
So I said "no". And I will continue to guard my list of friends because I value my reputation and their sanity. Not to mention the value of the whole social network thing.
It's not even about whether this chap could "do" anything for me. It's more a fear that he might bring a negative value to the experience. Am I alone in thinking that social currency is both important and may be growing in importance over the next few years?
Posted by artandscience at January 28, 2004 09:34 AMI agree: you devalue your existing relationships if someone uses your good name as a way to get something from your friends. You would expect the same from them, I presume?
These social networks seem to be neither, when you take a good look. I have renewed some old professional relationships that lapsed when I switched coasts, but I don't imagine any monster deals being made on LinkedIn or Tribe.net.
the folks in a position to make deals don't join these things . . .
Posted by: paul at January 28, 2004 09:37 PMI would certainly hope so (that they would exercise the same discretion on my behalf).
I don't necessarily agree that folks in a position to make deals don't join these things (Ryze in particular). Certainly, there can't be too many VCs who spend time on them. But I have seen CEO and senior management types on Ryze. (Whether they use Ryze for recruiting/hiring is another question though.)
That being said, I've always been reluctant to try and use my relationships "actively" to promote self-advancement. Mine is a more passive approach--all my friends know that I'm looking for work and I'm hoping that some of them remember me when it comes time to fill their next PM position.
Back to the topic at hand. I made the point to friends over dinner last night that these social networks, at their best, might approximate the social circles of fin-de-siecle Europe in the 19th century. Admittance to one's inner circle should be guarded; should be on merit. I guess I'm a bit of an elitist.
I ask everyone on my A-list who comes to my cocktail parties to bring a "couple of interesting people". If I find them interesting, funny, or otherwise worthy of consideration, they get added to the A-list (and so get a primary invite to the next party). I don't, let it be said, ask that everyone hold the same political, religious, or moral views. Just that they be able to discourse in an intelligent way and that they value the discourse as much as I do.
Posted by: stefan fielding-isaacs at January 29, 2004 08:46 AM