In essence, the term social media describes the relatively new phenomenon of users being encouraged to share opinions, insights, knowledge and experiences with other people. In the broadest terms it includes: blogging; message boards and forums; Podcasting; wikis and vodcasts. Social Media is one of the key elements that make up Web 2.0. Two of the key divisions of social media are Social Networking and Open Source content.
Arguably the most famous social network at the moment is MySpace, though other examples you may be familiar with include Friends Reunited, MSN Spaces and Bebo. A social network comprises of a community of users who can interact and communicate with each other, usually by maintaining personal pages about themselves. MySpace actually encompasses several different Web 2.0 elements, including blogs, RSS, MP3 Sharing and Open Source widgets.
Internet historians would argue that the origin of open source comes from Generation X programmers wanting to share their code and programmes after years of being crushed by giants like Microsoft. We don't know how true that is, but the reality of Open Source - a reality that even Microsoft is now waking up to - is that if you allow your applications to be edited by the users, they will invariably become better than you originally intended them to be.