The articles such as Freemium Services and the Economics of Social Networking and YouTube: The online hit that's losing £107m highlight the difficulties in monetizing social technologies. The emergence of social technology and its massive take up by internet users are influencing and influenced by the ways in which we interact with others and perceive ourselves etc. Its pervasiveness and embeddedness have been demonstrated and documented in every corner of our lives. Therefore it is an attractive investment opportunity for many. However, making social technologies financially viable is particularly difficult due to its inherent nature. The social technology is considered to be user orientated and as such, the current notion of social technology is closely related to a ‘free’ service. The savvy internet users will find free alternative applications if necessary and there will be continuous supply of innovative social technologies. Probably with the lessons learnt from the likes of Twitter and Youtube, the next generation of social technology will have a clear business model embedded from the start.
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