In the world of social media, things move quickly. What could be the next hot start-up can fold overnight without so much as a final tweet. Considering this, social networking giants MySpace and Facebook, founded in 2003 and 2004 respectively, are like the wise elders of social media. They each have massive user bases and huge amounts of capital for innovation. The only question is, what are they innovating toward? A recent article at MSNBC.com from the Mobile World Congress in Barcelona discussed the role that cell phone and wireless technology will play in the future of social networking .

From the article:

Everybody at this week’s Mobile World Congress in Barcelona wanted to be the new best friend of the social networks.

From the world’s biggest phone maker, Nokia, to tiny Irish semiconductor start-up Movidia, delegates to the wireless industry’s biggest annual gathering couldn’t stop talking about Facebook, MySpace and Bebo.

The piece goes on to cite specific examples of social networking and wireless integration.

MySpace announced deals at the fair with Nokia and Palm, who will adapt some of their phones to make uploading pictures or video to the social network a matter of a single push of a button.

The company is confident that most smartphone makers will feature MySpace in the coming year.

The so-called Facebook phone or Social Mobile made by INQ, a spin-off of Hutchison Whampoa’s 3, won handset of the year award from the show’s hosts, the GSM Association — and everyone involved was eager to claim a share of the credit.

“Qualcomm’s integrated chipset technology and BREW software have enabled INQ… to realize the potential in mobile social networking,” gushed Enrico Salvatori, the head of chipmaker Qualcomm’s operations in Europe.

Of course, while the widespread integration of social networking and cellular technology will greatly change how people communicate, there are a number of possible drawbacks. Issues of privacy, already a problem because of cameraphones, will become even more of a hot topic. The speed in which information can spread across the Internet is already mind-boggling. Imagine what it would be like if all standard issue cell phones came with Internet options that are as powerful and easy to use as a desktop computer.

Whether or not wireless and social media take off in the way that many people expect, it’s just one more reason to take a pro-active stance in managing your online reputation.