arnes, 2008). In this sense, few studies exist that provide information on the benefits of OSNs compared to social networking in real life. As Hyatt (2008) notes, "While there is plenty of information about the value of real world networking (business clubs, social clubs, exclusive schools, etc.) the subject of online social networking is relatively new" (p. 1). This investigation will explore OSNs in order to determine their social, economic, and psychological benefits and drawbacks compared to the process of real life social networking. While there are a number of OSNs, this analysis will focus on three of the most popular among users, Facebook, MySpace, and Second Life. A conclusion will address the likely future scenario of OSNs and their impact on individuals who utilize them.
Before the advent of computer technologies, real life social networking occurred through individuals meeting other individuals in groups or networks like business clubs, social clubs and exclusive schools (Hyatt, 2008). As individuals met others and forged relationships, these first-degree contacts often provided extended value by opening up their relationships to the new contact. Real life social networks differed from OSNs in that they typically included barriers to membership, like cost, geographic considerations, or time factors. Real life social networks also provided more security, since in-person contact permitted individuals to verify the authenticity of their social contacts. As professor of psychology William Reader explains, "Social networking will never replace face-to-face communication in the formation of close friendships. Anyone can post 'u r cool' on someone's 'wall,' or 'poke' them on Facebook, but genuine smiles and laughs are much more reliable indicators of someone's suitability as a faithful friend" (Dubner, 2008, p. 3).
Real life social networks also came with drawbacks that prevented individuals from h...