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What does this mean for businesses? The bottom line is that people want to build relationships. The primary use of Facebook and MySpace is dating, and for LinkedIn, building professional contacts. There is a dark side to this as graduates from Ivy League colleges find that background checks by potential blue chip employers often turn up embarrassing photo’s from spring break vacations. But those who use these tools are going to have an enormous networking advantage. In addition, as media buyers scramble to re-allocate resources to online advertising, the fact that MySpace is the second most trafficked site on the internet after Yahoo means you cannot afford to miss out on this gravy train. For now, Facebook supports less than 10 Indian colleges. Is that opportunity I smell?

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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