[InclinedPlane]

Yes, but no.

Let's remember that "social networking" is a very, very big thing. In essence it is the foundation of most major communication networks, including the old phone network and the modern internet. It is more than just the little windows into socialization and networking that twitter, facebook, linkedin, etc. represent.

People trying to make the "next facebook" or twitter or what-have-you are going to have problems due to the saturation of very capable competition. But that doesn't mean we've plumbed the depths of facilitating social interactions through software, there's still plenty of room for innovation and disruption.

[randomdata]

I agree with you. To me, Facebook's success has been from their ability to become the internet's "telephone book."

You're probably going to have a really hard time building a better telephone book, but the telephone book didn't stop email or any later forms of communication from coming to be.