We talk about Reeds Law, and Group Forming Network Theory, which outperfoms Sarkovs Law (the Law of the Mass Media) and Metcalfes Law (the Law of the network).
Essentially, when a group of people form around a topic, issue or goal their effect can be exponential.
So the student protest which was directed at HSBC via Facebook is a small example of that theory in practice
HSBC, the fourth biggest bank in the world, has made a dramatic u-turn in policy changes to its graduate overdrafts it announced last month, following a well-publicised student backlash on Facebook.
More than 5,000 students used the social networking site to rally against the bank's decision to charge graduates interest on overdrafts up to £1,500 which had previously been offered free for the first two years after university-life.
Led by Cambridge's NUS vice-president (Welfare) Ama Uzowuru and Wes Streeting, NUS vice president (Education), 5,090 students and graduates joined the group "Stop the Great HSBC Graduate Rip-off!!!" to discuss action against HSBC
The bank said
Like any service-oriented business we are not too big to listen to the needs of our customers.
Which in English means, we were hoping to get away with this one, but after the all the hulabaloo we were caught with our hand in the till so we had to back off. That damned Reeds Law is a real pisser.
There are 65,900 entries for Facebook takes on HSBC on google