I was mighty thrilled to finally read something that is not euphoric about social networks and their ability to generate ad dollars. And it comes from a ‘voice of authority’ – Ted McConnell, General Manager-interactive marketing and innovation at Procter & Gamble. Commenting on ‘consumer-generated media’ he puts it brilliantly: Who said this is media? Media is something you can buy and sell. Media contains inventory. Media contains blank spaces. Consumers weren’t trying to generate media. They were trying to talk to somebody. So it just seems a bit arrogant. … We hijack their own conversations, their own thoughts and feelings, and try to monetize it.” However, he rightly adds that Facebook applications are a potentially valuable vehicle for advertisers, one in which they can create an environment that’s favorable for their brands and consumers alike. Makes for great reading.