The document discusses the history and concepts of social media and social networking. It defines Web 2.0 as the development of dynamic and interactive web applications. Social media refers to media that is disseminated through social interaction like blogs, videos, and forums. Social networking connects people with common interests and allows for collaboration and sharing of information on platforms like Flickr, YouTube, and MySpace. While social networking provides commercial value for companies, there are also risks to consider like loss of control over published information and dependence on available platforms and services.