Feedback is Dead; Long Live Feedback [Open Source CU - Home] [The Banktastic Credit Union Feed]

I have a plan to make every February 13 a national half-holiday (holi-half-day?). Beginning at 1 p.m. on February 13, the nation is required to take the day off in order to get its collective romantic sh*t together. This half-holiday could also work for February 14, but before noon. I’m flexible on the days. Write your senators.

That said, there was an announcement on February 13 this year changing one of the pillars of the Social Media industry (movement?, community?). I missed that news because marital bliss takes priority. So if this is a late analysis, so be it.

eBay is changing the way feedback is handled. Essentially, sellers will no longer be able to leave feedback for buyers.

What impact does this have for credit unions? Honestly, it probably has little immediate impact. Most CU’s aren’t involved in social media and can sit on the sidelines and watch. But eBay’s feedback system was a transparent way for buyers and sellers to police themselves. The wisdom and knowledge of the community ruled.

It didn’t always work that way. Feedback was a weapon as much as tool. Sellers lorded it over the buyers: “leave me bad feedback, will ya...well...we’ll just see about that...” Which brought to light the notion of etiquette. As buyers and sellers redistributed the bric-a-brac of the world, feedback became its own currency. And eBay has stepped in to referee. Even democracy needs oversight. Is this a surprise?

Combine this with Google’s knol project and it appears there are steps being made to reign in the sometimes mob rule that can be Social Media. Both speak to the need for authority in a land affected by anonymity.

The Financial Times has declared self-rule on the Internet dead. Indeed, this is probably the biggest impact the decision will have: critics can pounce as Web 2.0 corrects its bugs and moves along to Web 2.1, Web 2.1.5, Web. 2.2 and beyond. But dead? Hardly. The “experiment” lives on in the form of customer reviews, voting (a la Newsvine), Power Ratings...for better or worse, it’s a Jedi.

Speaking of correcting bugs...back to my original point: Valentines 2.0. Anyone with me?