Is social media becoming the "great internet innovation" many have been waiting for?

[Mark Knight]

Everywhere you look nowadays, you're gonna see facebook or twitter or youtube. And now i'm hearing about businesses making some grand shift towards social media over the next few years. Cloud computing, smartphones and other smart technology, internet IDs, and constant connectivity with the internet and the real world, you name it, but social media seems like the "killer internet app"(no pun intended, just had to include the word 'app') we've all been looking for.