Lying is different from bullshit.

When you lie, you know what the truth is but you intentionally misrepresent it. In a way bullshit is more insidious because people who bullshit often don’t know what the truth is and don’t care.

They’re out to make a point; they’re out to sell you an idea; and they really don’t care whether what they are saying is true or not.

The theory that people want to engage with brands online and share their enthusiasms with their friends and that their friends will share their enthusiasms with other friends through social media channels has turned out to be an infantile fantasy.

In fact, what social media sites are rapidly becoming is just one more channel for traditional paid advertising.

Here’s what you need to know about social media:

The hundreds of millions of people using social media are interested in interacting with each other.

Not brands, not ads, not you, not me.

In the traditional ad business, we’re always reminding our client that consumer behavior is not rational.

We lecture them on emotion as a factor on buying decisions and brand preferences.

We explain to them that an ad is not a court case in which the best argument wins.

In the US people over 50 control over 70% of the wealth.

They are responsible for almost 50% of consumer spending, they buy 55% of all consumer package goods and 62% of all new cars.

If Americans over 50 were a country by themselves, they would be the third largest economy in the world after the US and China.

And yet they are the target of only 5% of all US advertising.