This document discusses the rise of social media and its impact on business. It notes that social media has transformed one-way communication into two-way dialogues, democratizing information by allowing people to publish content. The document outlines key statistics on the growth and usage of major social media platforms like Facebook, YouTube, and Twitter. It also discusses how social media is shifting how people discover, read and share news and content. The rise of user-generated content and new business models like blogs are transforming industries like media and photography. The document cautions that while social media provides many free services, users are still "the product being sold" through their personal data.