umarsaeed

We Are Hunted

In Fresh on March 7, 2010 at 6:36 PM
Here‘s a new way to find music. Sure, it’s just another list. But how they have compiled it is what intrigues me. In their own words:

We listen to what people are saying about artists and their music on blogs, social networks like Facebook and MySpace, message boards and forums, Twitter and P2P networks to chart the top songs online everyday.

You can listen to the entire song and buy it directly from the site. We are beginning to see very unique commercial uses of social networks like twitter and facebook. By organizing all of the clutter from our Twitter/Facebook pages and tracking popular songs, We Are Hunted is able to extract and compile a list we have never seen before.

This is similar to what I spoke about months ago in the use of Twitter for certain stock market traders. In this piece, market traders who believe that the herd will overvalue/undervalue stocks can use Twitter/Facebook/etc to harness the public market sentiment of a stock at a particular time. If they believe the herd is irrational, then they are trying to time their bets against the herd to profit from massive irrationality.

The technology is out there and it’s working. If you can think of a particular piece of information to mine from the Twitter/Facebook data set that would have value to someone, it would appear that you’re in business.

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  1. Just saw this story and thought you might find it interesting regarding mining Twitter et al for stocks: reuters.com/article/idUSN1823895820100319?type=marketsNews

  2. Thanks for the tip. This article just jogged my memory about something I wanted to research/write about a while ago, which is where do all these investor media companies get their information from in the first place? Please, keep the articles coming!

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