In today’s Signal, more on what some have called the demise of Silicon Valley; how social data might be the key to a CMO’s success; Rex Briggs on wasted ad budgets; and a trio of Facebook stories.

To the links….

O’Brien: Steve Blank believes social might be killing Silicon Valley (SiliconValley) Steve Blank, one of Silicon Valley’s influential voices on entrepreneurship, worries that venture capitalists and angel investors have become too obsessed with the quick returns promised by social media. It just doesn’t make the same financial sense to pour money into companies that might be more innovative but take longer to pay off in fields like medicine or robotics.

Social Data, Used Well, Can Add Years to a CMO’s Tenure (AdAge) In the social era, linearity gives way to seriality. With copious social data ready to be interpreted and acted on, marketers for the first time have a real-time laboratory producing a constant data stream. With the proper technology and the right team, they can interpret real-time data and make mid-stream changes to campaigns so as to ensure success.

Marketers Are Getting Worse at Directing Their Budgets Wisely (AdAge) Rex Briggs analyzed hundreds of advertising campaigns representing billions of dollars and found that 40% of the budgets are being wasted. That’s worse than a few years ago. Er….oops.

Facebook’s Brilliant Disaster (NYT) According to Joe Nocero, what the Facebook IPO aftermath suggests is that we’ve all become brainwashed into believing that, when it comes to I.P.O.s, up is down and down is up. A successful I.P.O. is one where the company gets hosed by Wall Street. A failed I.P.O. is one where the company’s interests, not those of Wall Street speculators, are served.

Facebook Premium Ads Get Self-Service Availability (ClickZ) Facebook’s Premium Ad units will be available in the coming weeks as a self-service purchase option for brands. Previously, the ads had to be bought through a Facebook salesperson.

Facebook Tries, Tries Again on a Smartphone (NYTBits) Word is out that Facebook hopes to release its own smartphone by next year. As a newly public company, FB must find new sources of revenue, and it fears being left behind in mobile, one of the most promising areas for growth.

This Week in Media: A Need for Reinvention (TheNextWeb) From theoretical debates to court battles, this is The Next Web’s recap of the latest hot topics. Worth a review.

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