In the last 12 months there have been $76 billion dollars in social business IPOs and more than $1.5 billion dollars in social business acquisitions. LinkedIn, Facebook, BazaarVoice, Radian 6, Vitrue, and Buddy Media are now all either part of large companies or have become well-funded public companies in their own right.Yet, with each major event the market finds itself doing some soul searching. Doubts about either valuation or value creation hound every conversation, and despite the attention lavished upon social media by hundreds of millions of consumers and businesses alike there remains a debate: are we engaged in mass delusion or mass enlightenment?Personally, I have never felt more certain that the naysayers are 100% wrong. Here is why.