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Today, Babel Translations is the premiere translation and copywriting/text creation agency in SL. With a 3-figure number of jobs and a 6-figure amount of translation fees in recent months, our 50 translators provide the finest and most professional translation services in SL. We cover almost 20 languages, and each language is at least covered by 2, typically 5 translators. The translators themselves are in most cases RL translators, or have a similar qualification in language teaching, journalism or other text creation parts.

Actually - and for some of my readers maybe surprisingly - I think that Linden Lab has a strategy for the coming years and Second Life's place in the Metaverse.

In parallel, it is interesting to see, that Linden Lab created a "Department of Public Works" earlier this year, which is responsible for "beautifying Second Life" - after a long long time, where the company just flooded the market with more and more "land" (servers) which quickly were converted into huge trailer parks.

I believe, that they are all part of a unified strategy to position Second Life as a standard tool for creating and accessing the future Web 3D as well as to position Linden Lab as one - but not the only - important service provider.

The problem for Linden Lab is, that they target so many dfferent audiences. And it is impossible, to offer all of these audiences ONE single product, a product that will make all of them happy.

ut, comparing SL to "The West" (as Mitch Kapor did it in his birthday speech), please consider: not all of the important groups and personalities in the American West of the 1840s or so would be well respected citizens in the California of 2008

a second important audience, Linden Lab is targeting, too, is the corporate audience, the educational institutions, etc. Despite Linden Lab's propaganda, this is a very small market today (the majority of earnings comes from consumers) but it is growing. This audience needs more "control & security". If Linden Lab wants to succeed in these markets, they have to provide that - not only on seperate estates, because the vast society of Second Life CAN be an interesting aspect for some of these projects, too :) Not all of them work best in a walled garden.

For those who want a walled garden, I am sure, that Linden Lab will soon offer some options which go well beyond what is possible on private estates. It will be possible to host closed sub-grids in Linden Lab's data centers in 2009. I am very certain of that.

Linden Lab will offer one. Others will do that, too. There will be "adult grids" (they are already being built). There will be grids for many, many sub-cultures and those will certainly not have the same set of rules like Linden Labs SL has (now or then). And there will be corporate "Intraworlds", educational and marketing grids, tightly controlled and partly or fully closed off to the public.

While Reuters thinks that the story has moved on from Second Life, CNN and many others beg to differ. The broadcaster now has an even larger presence in SL. Rather than send in a reporter as a corresponent in-world, CNN relies on SL residents to report their own news as citizen journalists for its iReport site. CNN.com senior producer Lila King said that Second Life iReporters have posted 376 stories since it launched a year ago, but that relatively small number did lead to a number of stories on written by CNN.com producers (including this one about relationships in-world). King Since iReport.com launched in Feb. 2008, Second Life iReporters have posted 376 stories. It's probably worth noting that "in-world" iReporters actually began sending stories when the iReport SL hub launched in November 2007, but we don't have an accurate count of stories submitted before iReport.com launched. King said that SL has been more than just a story-generating tool for CNN's iReport team; it's also helped them learn to nurture an online community. "We've started to see a new benefit of being in Second Life: it gives us a place to polish our skills in community building," King said. "Newsrooms everywhere, ours included, are trying to learn how to foster meaningful, two-way conversations with their audiences. When we hold our virtual news meetings every Tuesday afternoon (2 pm Second Life Time/5 pm ET) with the Second Life iReport community, that's exactly what we're doing: listening and interacting in real-time, offering feedback and courting new ideas along the way."

One thing that has survived the hype is the virtual economy of Second Life and other online worlds and gaming environments, where people sell virtual goods with game-based money that can be converted to real money. BusinessWeek's Hof believes that's a story that has staying power. "The notion of virtual economies is already becoming a solid business model for many game companies, and even social networks like Facebook -- by some accounts up to $2 billion in revenues -- so that seems like a trend that has some legs, and it's one you can credit Second Life with proving as much as anyone," Hof said. "And of course, the idea of user-generated content is huge today on a number of fronts, though Second Life is just one example of that."

Second Life is a global phenomenon. Reuters estimates that only 31.2% of active Second Life users are U.S. residents. The majority of active users (more than 54%) are from Europe. Second Life usage is so pervasive in Korea, for example, that it is beginning to impact the country’s social agenda, according to virtual world expert Edward Castronova.

In a recent interview for National Public Radio Weekend Edition (www.npr.org, Feb. 9, 08), Bloomfield described the basics of the Second Life economy and the real financial losses from the recent Second Life banking crisis. (The currency used for economic transactions in Second Life is called Linden Dollars. Linden Dollars can be exchanged for real U.S. dollars at a rate of approximately 260-to-1. Last year, Linden Lab banned online gambling operations that had become popular in Second Life. Early this year, Linden Lab banned unregulated banking operations in Second Life because several banks were reneging on unsustainable high interest rates on deposits.) Bloomfield attributes his initial interest in Second Life to its potential use as an economic simulator in which reactions to new financial regulations could be studied by FASB.

Professor Steven Hornik, of the University of Central Florida, is another accounting professor exploring accounting education applications. He created a Second Life location called Really Engaging Accounting and maintains a blog about his efforts at www.mydebitcredit.com. In his financial accounting course, he uses the social networking capabilities of Second Life and interactive 3-D objects that he creates. The objects demonstrate basic accounting principles. One simulates the effect of transactions on the basic accounting equation. Another simulates the use of T-accounts to record changes to account balances. Students use their avatars to manipulate the models. Videos of his Second Life creations are available on YouTube (search “second life accounting”).

SUMMARY Second Life is an immersive and engaging 3-D virtual world with economic implications and opportunities for the real world. CPA Island is the current center of the public accounting profession in Second Life, but this won’t be the case for long as other CPA firms choose to use it as a tool for meeting, connecting, sharing and collaborating with others. Where business activity goes, it seems certain that CPAs will follow.