[tptacek]

I felt the same way about Facebook until I read Spolsky's "every time they figure out how to make 10 cents from their customers they get to fill swimming pools with money" comment. Facebook has also become defensible, in a way that almost provides an argument against Buffett: it's not a question of "which social network will take all the chips" (let me answer that for you: Facebook), but whether the social space is going to have a large value.