THE BUZZ24 I BUSINESS TODAY I August 11 I 2019IF
FACEBOOK – SOCIAL
media 1.0 – was about
connecting with friends
and family, new social
media platforms such
as Twitter and Instagram – social me-
dia 2.0 – attracted content creators,
influencers and followers. Now the so-
cial network is moving to version 3.0,
with platforms such as TikTok and a
recent addition to the platter, Bigo
Live. TikTok says it is not an ordinaryWhen social media^ generates^ social^ capital.
By Sonal Khetarpal
Illustration by Raj VermaSOCIAL
MEDIA 3.0
short-form video-sharing application.
Its content comes “from the gut” and
“come, as you are” storytelling nar-
rated in 15 seconds. Livestreaming
app Bigo Live lets you “broadcast your
life, gain many fans, receive gifts, earn
money and be an idol easily”. Facebook
too has added Facebook Live and Ins-
tagram IGTV.
The phenomenon caught on as in-
fluencers shot to fame. Everyone sign-
ing up on such apps becomes a con-tent creator. “These platforms have
democratised the process of content
creation and empowered individuals
to create content that can travel really
fast,” says Karthik Nagarajan, Chief
Content Officer at media agency net-
work Wavemaker.
The sudden rush to be seen and
heard by others has led to the aspira-
tion of creating content. “People are
developing content to earn social capi-
tal and create a personal brand so that
they could move up the social ladder
or be a part of the group,” says Sid-
dharth Deshmukh, Adjunct Faculty
and Senior Advisor at MICA (former-
ly, Mudra Institute of Communica-
tions, Ahmedabad).
The reason is in science. Social
scientists argue that the society has
moved from collectivism to an era of
individualism post industrialisation.
With this shift, family and friends have
failed to provide support and security.
The mindset has moved from ‘what is
best for family’ to ‘what is best for me’,
leading to a sense of narcissism. The
social media intensifies it as it offers
a platform to exhibit your best self in
the form of images or videos. Right or
wrong, people seek validation for what
they post on social-networking sites.
Nagarajan argues that this trend
started right from the moment social
media platforms came into being.
“Whatever you post on social media
is about personal branding,” he says.
What has changed, however, is how
it is building professional capital. Us-
ers have figured out how to make the
most of such platforms. While some
are still goofing around, others have
managed to monetise their personal
branding into professional success.@sonalkhetarpal7SOCIAL UNIVERSE