What does MySpace’s new owner, Specific Media CEO Tim Vanderhook, think about Facebook’s "like"?
Not surprisingly, not too much.
Speaking on a “leadership roundtable” with other industry executives Monday morning, Vanderhook said that the digital landscape is dominated by “behemoth” companies that create metrics that don’t benefit brands, but the companies’ self-interest.
“We create metrics that are effectively worthless and pretend that they’re worth something,” he said. “Like a friend, or a follower. What is that to a brand?”
Vanderhook (who introduced himself to the crowd by saying, “We’re the idiots who apparently didn’t know that MySpace was dead”) said it’s challenging for brands to understand the value of social media activity, even though Google “clicks” and Facebook “likes” get so much attention.
Other panelists agreed that measurement issues rank highly on the industry’s list of problems to solve.
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