Fred Wilson highlights the most important part of Robert Young's interesting thoughts on the "Rise of the Socially-Integrated Media Empire". It's pretty obvious, but may be not (yet) to everyone...
"But just as the Internet was not a subset of AOL, social media will not become a subset of traditional media. In fact, social media will increasingly begin to compete directly with traditional media consumption. Yes, it is true that the media output produced and distributed by the audience itself will generally be of lower production value and quality. Even so, they will prove highly competitive to Hollywood products, as the personal engagement factor inherent in personal media outweighs any loss of production value."
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