The Media Online:

The last few weeks have confirmed it for me: Social media is about 70% hype, and 30% business, writes Cory Treffiletti.

I mean that the majority of conversations surrounding social media centre on behavior that creates page views but very little actual value to a brand marketer, and therefore little impact on the business of the Internet.

Let’s deconstruct my statement for a bit, because I know many of you will immediately jump to skewer me for this.

The Facebook IPO confirms the space is slightly overvalued. I’m not saying there’s no value here, because there is.