Thomas Nolle, Network World columnist and longtime industry analyst portends a rocky future ahead for companies buying into what he sees as the latest Internet craziness, what he loosely calls "advertising." Companies that are scrambling to place ads on or closely align themselves with social networking sites are just "plain wrong," he says when asked about what the industry got wrong in 2007.

While companies such as Facebook and MySpace bank on an influx of advertising cash, carriers are quietly building stronger positions. In "What the industry got right - and wrong,"  Nolle asserts: "The rest of the market -- the start-ups and innovators that we hear about -- is building stuff that will never be useful. Just like the bubble. And the common carriers will win because they didn't get trapped up in this mythology that caught everyone else."

Those are pretty strong words striking against the social networking phenomenon. Do you agree with Nolle that the industry is getting this all wrong? What else do you think the industry has failed on? Enter your comments below.

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