Participation levels in leading social networks climbed in the last year, and Milton Pedraza, CEO of the Luxury Institute, says there was a five-fold increase in online networking for wealthy over 55-year-olds. 

Follow the money to online social networks, as the latest Wealth Survey from the Luxury Institute revealed that 60 percent of wealthy Americans with an average income of $287,000/year and net worth of $2.1 million participate in online social networks, compared to just 27 percent a year ago.

These affluent individuals are most likely members of 2.8 social networks, with roughly 110 connections, and membership in social networks increase with earnings: those earning over $300,000/year average participation in 3.4 social networks.

Is your approach simply focused on reducing costs or have you adopted the best practice from top performers?

The real win when your company decides to outsource IT and Communications services may have nothing to do with cost cutting and everything to do with velocity.

Small to mid-sized organizations are much more likely to benefit from increasing their speed to market and ability to ramp up capacity to meet demand when they outsource Information and Communications Technology (ICT) according to feedback from more than 500 senior technology executives recently surveyed by our colleagues at the Economist Intelligence Unit for its report Technology and growth at mid-sized companies.

You can download the report from the Resource Center to learn how outsourcing can save you headaches in tight labour markets (such as the US) and outperform your peers at the same time.

We’ve gone out to the wider web to bring you the most relevant news and information.

Who “Owns” A Web Service
from A VC by Fred

You cannot build a successful sustainable business in today’s society and economy unless you treat your customers as owners. You do not need to give them shares in the business. Those go to the people who stay up all night trying to move from joyent to verio and people like me who risk capital in the hope that they can get it right.

But users are stakeholders in your business. More than stakeholders, in this world of peer production, personal expression, viral distribution, etc, the users are contributing significant value to your business. They must be respected and treated with a lot of value back.