Bob Lefsetz:
Most people aren't aware of most social media. Read this "New York Times" story on the girl who committed suicide after being bullied on ask.fm, Kik and Voxer. The average person wouldn't think there are enough people on these sites to make a difference, to drive someone to the brink. But just like every generation needs its pre-fab teen hero, every generation needs its own social network. As Wall Street concentrates on one, the youngsters are on the bleeding edge taking everybody to another. This is the Rock Band/Guitar Hero effect. Once everybody in industry and finance believes the ground has solidified, we know that it's going to be whipped out from underneath them.
"Girl?s Suicide Points to Rise in Apps Used by Cyberbullies": http://nyti.ms/18kyaF6
Josh here - I'll admit, I haven't heard of any of those either. Better build a profile just in case, you never know which will "matter". Who would've bet on Twitter being planet earth's communications utility six years ago?
Also, never stop talking to the kids. They know what's up.