Jeremiah Owyang gave a virtual tour de force last week with his new monthly, “Digest of the Social Networking Space.” This piece sums up all of the many trends over the past month, including Facebook’s growth, corporate adoption of social media (Wal-mart’s Facebook app.), and the mobile necessity of social media apps.

Here’s some choice advice for cos,”Some of these companies not to be around in 5 years, there will be a shake-out, acquisitions, and fall-offs.” If you haven’t read Jeremiah yet, this is a great way to get introduced to a master.

It’s good to read a variety of blogs. Telecommunities Ian Martinez noted Barach Obama’s incredible social media campaign yesterday. This is powerful:

5,000 groups have been created through the networking website and about 15,000 are blogging. “This technology allows people to participate in the process who didn’t have a chance before even if candidates wanted them to,” [Obama advisor Julius Genachowski] said.

Tribal Seduction had a great write-up a few days ago on how to make someone look like a leader via a blog. These are some essential tips for corporate bloggers looking to become known as subject matter experts.

We mentioned a few days ago that the Ad Age Power 150 may have a flaw in it. Well the Friendly Ghost just dished out his August PR index late yesterday afternoon. Guess what? No questionable bloglines stats, making the index a pure “What have you done for me lately” measurement. I like it. So do Kyle Flaherty and Eric Eggertson.

Speaking of, Eric Eggertson continues his hot streak with a great write up on the American Red Cross vs. Johnson & Johnson lawsuit. I’d have to agree with Eric. This is a no win for the Red Cross.

The team at Viget Labs wrote up the upcoming New, New Internet conference here in Washington DC this Nov. 1. Confirmed speakers include Confirmed speakers include James Surowiecki (author of The Wisdom of Crowds), Ted Leonsis, Om Malik, and Tim Ferriss (author of The 4-Hour Work Week) as well as DC’s own Rohit Bhargava (Ogilvy), Frank Gruber (AOL), and yours truly. Host organization ExecutiveBiz has launched their own blog.