Foursquare founder Dennis Crowley took a lot of ribbing yesterday for a comment he made to a blogger at an NYU panel discussion. The panel was called “The Case for Media Optimism,” and Crowley stated that he thought referral fees would be the next big thing in social media marketing.
For example, if someone Tweets about a new movie and 500 of his friends follow a link to buy a ticket for the movie, then the original referrer gets a kickback for each ticket. When asked if Foursquare was working on this idea, Crowley said it was on a long list of ideas under consideration.
Here’s where it gets sticky. Jeff Bercovici from Forbes.com asked Crowley how he would get around the FTC ruling that required full disclosure when an endorsement was offered on social media in return for payment of some kind (cash, product or service.)