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Social media supports the social economy. Conclusions may seem familiar, but they are backed up by documentation. This is more statistical than personally anecdotal. Media is the examined life. The social graph is a big referral program. Friend status and word of mouth are global in realtime. Advertising is constantly changing for better targeting; Micropayment model adds up. Can find good sources of free and fast media, e.g. bloggers. News finds its way to readers immediately via aggregated feeds. Author recommends using best existing social media rather than starting own. Maxim is that using social media increases productivity. It influences election outcomes. It increases efficiency, is mobile, saves time and eliminates redundancies. It has replaced email. Social search may replace google type. Collective intelligence will be predictive. Each of eight chapters summarizes key points. The author tends to be optimistic. Other sources would be required to cover issues of privacy, walled gardens, or new technical approaches such as activity stream protocols.