This document discusses the rise of social media and its importance for business. It notes that social media allows people to connect through applications like social networks, wikis and blogs. It also highlights that people trust recommendations from friends over traditional advertising. Additionally, it provides tips for businesses, advising them to listen to conversations on social media, engage with customers, and set soft goals and strategies to build their social media presence. The document emphasizes that social media is increasingly dominating over traditional media like television, and businesses should focus their efforts on social platforms where conversations are happening.