Here’s a smart piece from exactly 10 years ago. At the time, we were facing serious labor shortages as the dot com thing exploded. While the thinking about labor supplies has certainly changed, the fundamental point of the article continues to be valid.

Tools wear out.

The competitive advantage accorded to early adopters (when they aren’t busy being fooled by their own enthusiasm) is not a permanent improvement. The people who are making hay today with social media are not generating repeatable results. Rather, they are benefiting from the fact that they are ahead of their time.