Social Media: A Passing Fad or Bigger than TV?

The era of mass media introduced a lot of changes in how businesses communicate with customers.  It has also had a huge impact on society, as Marshall McLuhan noted: media such as TV and radio would shrink the globe into a “global village“, a term he coined in his book Understanding Media (1964), which I briefly reference in the video.

So what about social media?  Will its effect on society and, more specifically, on business communications be a passing fad or will it have a greater impact than the era of mass marketing?

Here is my riff on that question.  Please let me know your thoughts on the subject.