The brief history of social media is the story of astonishing 1% success stories amidst the 99% also rans - but with the critical qualification that the cost of failure has been lowered so far as to be almost irrelevant. Clay Shirky points out that there is no recipe for success but defines three broad rules... "a successful fusion of a plausible promise, an effective tool and an acceptable bargain with the users."
Social Media Basics: Promise, Tool and Bargain