What these paid job boards need to do is (incorporate) social media properly and they will survive.

And Monster doesn’t post scam jobs???

Also, ANY job board whose business model depends on fees per posting will go the same route as Monster. Not only is social networking becoming a more productive means to find work and build networks, many employers now see this new model as the best — and most cost-efficient — way to attract talent.

This is the most self serving piece I have ever read. Let’s see we are supposed to believe that the founder of tweet my job is going to write an unbiased and more importantly accurate analysis of the recruitment industry? Nice job picking the famed failed bank Wachovia as a source of data, why not dig up a Bear Sterns report while you’re at? BTW Monster’s Market Cap is currently 1.6 Billion and they did revenue of 1.3Billion in 2008 looks to me like they are extremely undervalued. They are expanding into China, and are major European players. Rumors of their death are greatly exaggerated. If anything they will be absorbed by News Corp or another Media Company. Now on to the crux of your argument: Social Media = Recruitment Game Changer.

Social media is an important recruitment tool, but that doesn’t necessarily mean the death or dramatic revenue decline of job boards. All the job boards have to do is form partnerships with the social media sites and they will negate any threat posed by social media. Your argument is based on the flawed premise that the job boards, Monster in particular, will not take advantage of social media. If you are correct then yes they are leaving revenue on the table, but that simply is not the case. Monster will sell social media products if they don’t already, and they will capitalize on the social media phenomena.

Twitter is a flash in the pan; it’s a nice shiny new toy that will be neglected for the next new shiny thing. While their rise has been meteoric, the retention rates are awful on twitter. Facebook may have staying power, but people are on there to troll for hoties or look at drunken pictures. Social Media is powerful in that it can get someone fired quickly but in terms of getting a job, I don’t believe people will use it like they do a job board. I hope you sell your business for a nice chunk of change before the fad is over. Maybe Monster will buy it from you, they have enough cash on hand to do so, then again why not just open up a free twitter account and do a live stream of job postings and charge a hefty management fee?

Knit is something you do with needles, and nit is used in nitwit, which is what you are.
Also haven’t heard the “not” phrase used in quite some time, your holstered cell phone must be getting too tight or something.

Don’t give Gen Y a bad name, go back to school and take a grammar lesson.

Does a construction worker arrive at a work site with a just a hammer? Of course not. He may have multiple hammers, screwdrivers, etc.

I am a huge believer that one should go where the talent is. Depending on who you recruit, where and what industry some tools are better than others.