Scott Karp talks about Facebook’s addition of classified ads to their website. The two key components of this are:
- Social networks like Facebook offer a trusted network within their communities.
- Users can check out each others’ profiles, in order to strengthen trust and connection.
Scott’s message to newspapers:
“It also seems inevitable now that social networks are the perfect platform for all online transactions that involved connecting individuals, and even transactions that involve connecting companies. If I were a newspaper exec, I’d thinking long and hard about how to create a social network around the one element that newspapers still have claim to — locality. People who live in a city or town have an instant connection. Newspapers should focus on how the help people in their communities leverage that connection.”