[moe]

I do not see an opportunity for every region to have a successful me-too competitor.

Don't forget though, that the cultural gap between the US and Asia is much bigger than between the US and europe. It's quite likely that a successful US product can be made successful in europe by the same people. It's a different story when you move from US/Europe to India, Japan or even China.

The japanese Facebook (mixi.jp) looks quite different to the US and european variants. Not only in terms of aesthetics but also in many subtile usability and feature aspects.

[potatolicious]

The Chinese facebook (xiaonei.com) is another good example of this - it started as a complete facebook ripoff, but has now gained more momentum than facebook has in that country, and is evolving its own feature set.

This goes to support the point that, for the next while at least, "me too" business models WILL work in developing nations.