In class we discussed several laws associated with networks. I found Reed’s Law most interest. Reed’s Law shows the power of social networks and the different groups that come together because of network affiliations. Reed’s Law is based off of group forming networks. Social media is more popular now than ever before. It is an example of a group forming network. You can even branch off of that into smaller groups with people who have similar interest. When subgroups are created, according to Reed’s Law, that is what creates value of the network. A larger network can scale exponentially with the size of the network. David Reed observed that the value of a communication network grows with the number of groups it supports.
I found interest in this law because it is not based off financial. It is based on the amount of people involved in the network. Reed didn’t see financial transactions as a effective way to measure a network. What was important to him, was the groups that are supporting the network. If people did not use the networks, they would never be successful. Whether it made someone money or not. It is all about the people using the network and them getting use or enjoyment out of it.
In five years from now I can still see social media being a dominate way of getting information.. We think the younger generations are attached now, I only seeing it getting worse. They are doing more and more for the consumer with every new product that comes out. Social media has become one of the more popular ways to get information today. I can see new networks being released that makes it that much easier to get all your information and communicate in one location. Basically, I see social media coming to its peak for gathering information.
I also thought Reed’s law was very interesting. By analyzing the base and supporting groups within a network, you can determine the network’s true value. I like how Reed’s law incorporates social networks in to the equation for determining value. Like you said, in five years social media will be our center point for information. This makes Reed’s law more relevant and applicable to the networks we have today.
ReplyDeleteI completely agree with your idea that social media will become a dominating information source. I believe social networks, especially YouTube, will become our greatest information sources because they will partner with other networks. Imagine if ESPN no longer broadcasted their shows and sporting events, but rather live streamed them using YouTube. Imagine if Netflix and YouTube merged, making Netflix a channel on YouTube. Based on Reed’s law, these networks would become some of the most valuable networks in the world. I believe that is the direction in which we are heading.
I like to use this graphic to decode the difference between Reed and Sarnoff's laws. At first during the lecture, I though Sarnoff was just a simplification of what Reed was trying to say. This graph(ic) was helpful to me. You guys might find it interesting.
ReplyDeletehttp://thanksfornuthin.com/four-geeky-laws-that-rule-our-world/
(Scroll down to Heading #4)
Sam
ReplyDeleteI agree when you say that YouTube will become one of the key sources in seeking information. You can YouTube a video on how to do just about anything and it will show you in 5 seconds. I believe that the world will slowly become dependent on the internet for answers.
I agree with you on the fact that Reed's law is so important when talking about networks. I don't know if y'all have ever seen Facebook friendships mapped, but it is amazing to see the interconnectivity within certain groups. It literally created a map of all my friendships, social groups and networks form friend to friend. If you ever want to sew the network social media can build, I would check it out!
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