This was an unexpected headline on Marketwatch yesterday:
Two companies that do not produce or sell anything, although they are quite good at wasting time, were driving forces of the market on the same day. Not GM, not IBM, not Microsoft. The two places people, me included, go to kill time and see photos of their friend’s kids putting ice cream on a dog’s head.
This gave me the idea that Twitter and Facebook are like the TV show that Jerry Seinfeld and George Costanza tried to pitch to NBC on Seinfeld. It, was a show about nothing.
JERRY: Just talking? Well what’s the show about?
GEORGE: It’s about nothing.
JERRY: No story?
GEORGE: No forget the story.
JERRY: You’ve got to have a story.
GEORGE: Who says you gotta have a story? Remember when we were waiting for, for that table in that Chinese restaurant that time? That could be a TV show.
Twitter and Facebook are basically about nothing, but they are very successful, just like Seinfeld. And I say all about nothing with the greatest respect as I spend way too much time on Facebook.
As George said the TV show is about whatever the Seinfeld gang was doing that day. The script would be self-creating, just like the content on Facebook and Twitter.
And now nothing is enough to help boost the stock market, at least for a day.
I suppose this proves Twitter and Facebook are the masters of their domain, names.