Using social media FB_Twitter to build trading strategies

I am curious if there are people present on ET who have been on this path. I have heard that some quant hedge funds have been working on these ideas - not sure if anyone has put such a thing in production - but I would be surprised if big quant hedge funds of the world are not making money from this phenomena.

Some old links (2010) or so

http://singularityhub.com/2010/10/21/twitter-predicts-the-stock-market/

http://cs229.stanford.edu/proj2011/...eedsForThePredictionOfStockMarketMovement.pdf

Please share updated links if you find something interesting.
 
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