We ask this question after Twitter revealed to the New York Times its latest growth figures in a profile this weekend of co-founder Evan Williams. Twitter has added an impressive 30 million users in the last two months, putting it at 175 million, far ahead of Facebook at the same point in its life cycle.

Earlier this week, a Google-commissioned study informed us Britain has become a “nation of digital shopkeepers,” with the digital economy contributing more to GDP than construction, education and transport. How could this have happened so quickly? The rise of social commerce may just be the answer.

Universal McCann is back with the latest installment of its Wave reports, a look at how social media is transforming our online habits and how companies are responding. The assessment is that while the phenomenal global growth of social media “stands up to the hype,” most brands and organizations are “still not social.”

The NBA’s New York Knicks have taken to social media with the ferocity of a full-court press to generate some excitement for a team that failed to land the much-needed big scorer in the off-season. The secret weapon then: turning to you, the fan.

Procter & Gamble next week will launch a social media campaign. This one, it hopes, will make a big difference. The effort aims to martial the power of bloggers and social network users everywhere to raise awareness for the need to bring clean water to children in need. The do-gooder campaign hopes to distribute roughly 200,000 liters of water with the help of your clicks.

Okay, this factoid is a few days old, but it’s still worth noting. ComScore released last week its latest online audience reach numbers for social networks in the U.S. The winner? Yep. Facebook. By a mile.

Yes, web users do view online video ads in their entirety, says a new study from a TV network that is trying to make money from online video ads. Well, most of the viewers do. Okay, the CW Television Network study may sound self-serving, but there are some interesting findingsthat point to what we already know: viewing online video (and the accompanying ads) is becoming a growth industry.

Here’s a refreshing how-to social media presentation that even heard-it-all-before industry vets should take the time to review. It’s from Mashable COO Adam Hirsch discussing top tips for social media engagement for newby brands and organizations

A meteoric rise in popularity for social media in recent years has companies scrambling to understand its impact on how they operate. For training and learning within large organisations, social media makes existing practices appear outdated. Clearly, equipping colleagues with the skills and insights to compete in a fast-changing global marketplace requires a step change in approach.

Rainforest Action Network is boasting today it successfully Punk’d Chevron in an elaborate “hacktivist” stunt that involved circulating fake press releases to the media and creating a fictitious Ad Age web story that portrayed the oil giant as repentant and ready to change. The ruse was timed to break hours before Chevron launched its own do-gooder ad campaign called “We Agree.” The tactic is dividing many. Do eco activists need to resort to untruths and masquerading as their nemesis in order to tell their story?