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“Controlling the stream” is not just one of the major life-challenges facing elderly gentlemen; it is the center of industrial competition on the realtime social network that we once termed “Web 2.0.” Facebook’s chief operating officer, Sheryl Sandberg, gave a speech yesterday before a group of advertising executives in New York in which she argued, as the Wall Street Journal reported, that “banner and text ads are old news.” Today, “the new tactic is to blur the lines between marketing and social networking” by introducing commercial messages into “the stream” of realtime status updates exchanged among friends. Intimacy, whether real…

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BusinessWeek: Entrepreneurs are finding the fast-rising microblogging site to be a useful tool for reaching out to customers.

Here’s what happened when Chris Savage, the chief executive of Wistia.com, searched for the phrase “private video sharing” on Twitter, a social networking site. One post he found read, “A teacher requested a private ‘video sharing’ Web site so that specialists can observe student behavior can anyone refer one?”

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