I think Lee Lefever over at Common Craft does a mighty fine job of explaining Social Media (in plain English... as he always does):
If you like, here's the direct link to the Common Craft video: Social Media in Plain English.
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Six Pixels of Separation - Marketing and Communications Insights - By Mitch Joel at Twist Image
Twist Image Mitch Joel brings you Digital Marketing, New Media and Personal Branding Insights, Provocations and Foreshadows from his always on/always connected world.
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I love it! It's crazy how we have to "dumb" things down to make it understandable but since it's a new concept, it helps explain this to new people trying to understand digital marketing for the first time. Keep me posted for new videos from them.