The biggest companies in Silicon Valley are turning new media into old media for one simple reason: There's more money to be made in old-media-style elitism.
When everybody's equal on social networks, the only options for monetization are advertising, which is unreliable, or subscriptions, which don't work because everybody expects social media to be free.
With an old-school class system -- where you have elites with access to exclusive tools, features and benefits to promote their images, brands and products and a public that can only watch and buy -- you can eliminate the noise from regular people with nothing to sell and create scarcity where it hadn't existed in the past.
Welcome to the new media, which is just like the old media. Forget creating content and participating on a level playing field. Sit down. Shut up. And get ready to buy stuff.
Sign up for CIO Asia eNewsletters.