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Hanging Out with Squawk Box: Are You Long Social Media?

Jon Steinberg, President of Buzzfeed.
Peter Foley | Bloomberg | Getty Images
Jon Steinberg, President of Buzzfeed.

The state of social media took center stage in the first-ever Squawk Box Google Plus hangout. How meta, right?

Squawk Box anchor Andrew Ross Sorkin kicked off the conversation with a question from Google Plus user Matt Hefley, who wanted to know if the peak of entrepreneurship in social media has passed or if it’s just the beginning?

Niel Robertson, CEO of Trada, and Jon Steinberg, president and COO of Buzzfeed, argued that things are just getting started.

“I think we are absolutely at the beginning,” Steinberg said Tuesday. “We’re seeing a big transition from search to social right now, and that’s really changing the way people consume content.”

Jeff Ma, CEO of tenXer, said that for him it’s not about whether social media is dead, but “the ancillary impact of social media is the big thing.” The businesses that are building on top of social media platforms are at the “tip of the iceberg,” Ma said.

But what about monetization?

“These companies' valuations seem insane when you think about how much money they’re bringing in,” said Ben Mezrich, hangout co-host and author of “Bringing Down the House.”

The hangout touched on a range of topics about startups, such as immigration and tax policy, but ended with this question: If you had to “go long” on a social media company, which one would it be? Facebook , Path, Twitter, or Google Plus ?

Robertson: Facebook

Ma: Twitter

Matt Lauzon, CEO of Gemvara: Facebook

Steinberg: Facebook

Stay tuned for CNBC’s next Google Plus hangout. Be sure to add CNBC to your circles and let us know what social media platform you’re betting on.


email: tech@cnbc.com

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