Michael Lazerow, entrepreneur and founder of Buddy Media, recently spoke about the power of social media sites at the Web 2.0 Conference in New York City. He addressed the implications of Facebook, Google and other social technologies where he says millions of people are having conversations everyday. Lazerow says businesses now have a simple decision, Socialize or Die.

Lazerow’s Law: As social networks get larger, the speed at which content flows gets faster

Lazerow states that it only took social networks 4 years to penetrate 50% of the households in the United States. He says that’s astronomically faster than any other communications medium in history.

The potential to reach massive audiences has never been greater with more than 300 million people sending out 45 million updates per day.

If Facebook were a country, Lazerow says it would be the third largest country in the world. Another reason it’s critical for people to socialize their sites by opening up audience conversations on their Facebook or Twitter site pages. This can be accomplished by ensuring that users are treated to very easy and user-friendly tools.

Lazerow says another important tool is to establish an “Ecosystem of Sharing.” If the user has to hunt or search for how to interact with your site, you’ve already lost them. He also stressed the importance of creating engaging experiences, by using a combination of social data and personal experiences.

USING FACEBOOK TO SET YOUR BUSINESS ON FIRE

• Set your presence and update your content at least three times a week. Post these things on your wall.
• Facebook publishing offers the potential for geometric/exponential growth.
• Develop strategies to draw people to your Facebook Fan Page – get them into the conversation.

New Jersey’s Wine Wildman and Social Media Magnate, Gary Vaynerchuk hosts a Video Wine Series on the Internet that snags more than 80,000 viewers per day. His new book “Crush It! – Why NOW Is the Time to Cash In on Your Passion” is gathering momentum across the country.

He hosted a book signing in New York City Wednesday night at the Columbus Circle Borders Book Store.

The 33-year-old entrepreneur blew up the family business (in a good way) helping it skyrocket from $4 million to $60 million in just five years.

As the title might suggest, Vaynerchuk says there has never been a better time than right now to cash in on your passion.

All wine aside, Vaynerchuk says his true passion is the New York Jets and his ultimate goal is to someday buy the team. It comes as no surprise that he’s even found a way to integrate his passion for the Jets and wine during his video wine broadcasts. After he samples each wine, he spits the remainder of the wine into his special Jets trashcan.

“If you are willing to work your face off while chasing down your passion – you can win,” Vaynerchuk told the audience. “If you have no plans to retire in the next five years, you better make damn sure you pay attention to my book.”

Vaynerchuk says that at the end of the day, he wants to be heard. He says his message is the right one and he’s desperate to push it out there.

“The most money you can make is by following your passion, I believe that.”

Vaynerchuk also has a fascinating answer for people who ask him where his energy comes from, “You don’t need Red Bull — Do what you love and you are tireless!”

The Wine Wizard closed things out by offering his critical key to success. Find the thought leaders in your industry. Surround yourself with them, work for them and learn everything you possibly can.