This document discusses how social media has changed the rules of public relations and reputation management. Some key points: 1) Social media has shifted trust away from traditional authorities and media toward friends/peers, as people trust user-generated content more. 2) The rise of social media means that audiences now expect to participate in conversations with brands in real-time. It has also blurred the lines between PR, marketing and advertising. 3) For reputation management, social media needs to be monitored across platforms like search and social to address issues quickly before they spread widely and permanently online. Speed, reach and credibility are now more important due to social influence.