Best of the blogs: So, what’s wrong with social media? Plenty, according to this post in Lena West’s new blog Social Media 360 and reader comments. “Do I think social media will cure world hunger? Um, sadly, no. Do I think it’s got uber-potential of the likes we haven’t seen in years? Yep,” West writes. But first, back to the rant. Anyone can get cred with a big enough list, it’s prone to stalkers and other nuts, while blogs, podcasts and wikis are not only part of the solution but also the problem. “However, it should be very telling that I took the direction of my firm from overall technology strategy to social media strategy in less than a year,” West explains.Columnist’s corner: A professor at the University of California Berkeley says that 90 percent of corporate IT assets sit dormant inside the balance sheets. Ninety percent, that’s what he says. The key phrase, though, is balance sheets. “Monetizing dormant IP has not yet registered with VCs looking for revenue-generating businesses,” reports Ephraim Schwartz in Banking on busted IT projects and dormant IP. “Dormant IP aside, think of the hundreds of projects in which companies spend millions, if not hundreds of millions, only to never complete them.” Podcasts: Storage Networking World happened last week and Mario Apicella reflects on the high points, namely SAS, Fibre Channel over Ethernet (FCoE) and the new acronym CNA, which stands for converged network adapters. “The quick pace of the past few months suggests it won’t be long before you’ll be explaining to your CEO how investing in CNAs will save the company a bunch of money down the road.” Tune into Storage Sprawl. App dev: Martin Heller is starting to smell tulips again. And it’s not even spring time. Figuratively, though, it just might be a season of rebirth in VC land. By way of a little explanation Mr. Heller is wafting the tulips from a historical perspective, tulip mania (thanks for the link Martin) being one of the very first bubbles, back in the 17th Century. “It’s not just that Silicon Valley is once again awash in venture capital and startups,” he writes in this Strategic Developer post. “It’s that there’s so much money floating around for silly things.” Software Development