So what is social media? from Paul at chilibean
characteristics that distinguishes social media from old media:

1. Communication in the form of conversation, not monologue.
2. Participants in social media are people, not organizations.
3. Honesty and transparency are core values.
4. It’s all about pull, not push.
5. Distribution instead of centralization.

(of course I would ad to that 6. A whole lot of vanityware:), what characteristics are missing from this list?