The document discusses the evolution and future trends of social media. It describes how social media started as guaranteed meeting places but now helps people stay connected with family and friends as well as engage in professional networking, learning about world events, and entertainment activities. The document predicts that location services and mobile technology will redefine social media and that live video will grow. It also anticipates three types of firms emerging in the social media space: technology and analytics firms, strategy consulting firms, and outsourcing firms.