I'm not the only one thinking Bubble 2.0...

Maurice Levy, Chairman of Publicis echoed my concern that social media is gaining the inflated expectations we saw in Bubble 1.0. Am I worried? Actually, no.

While one lesson of Bubble 1.0 was that zillions of start-ups cannot live by hype alone, the other lesson was that while investors and even marketers may get disillusioned, consumers pay no attention to the trials and tribulations of the VC community. People look for tools and things that bring value to their lives.

Just as consumer adoption of the internet was unfazed by the bust of 2001 - 2002, adoption of social media will be equally unaffected should we see a social media bust take place. They'll just keep connecting to one another, creating videos, making virtual friends....

What should marketers do if the bloom comes off the social media rose? Ignore the anguished cries of VCs and even the doomsday blather that the media may put out. Keep your eye on the people who buy and use your brands. Stay involved with social media because your consumers will be involved with it.