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Inevitably the valuation for Facebook was completely overstated. In time Microsoft's acquisition of a minority share in facebook may come to represents the apex of of a social network wave. There is definetly the scent of consolidation, for example ONESite's acquisition of Social Platform, Jaiku's acquisition by Google etc, and commodisation of teh technology, Ning etc, in the air. I think a lot of networks who will probably not achieve their second round revenue targets particularly in a period of flat or declining advertising. Value to the user is driven by nicheness yet money is to be made from leveraging economies of scale. Difficult balance to achieve and I suspect to many strategies are still running on acquisition mode. However I agree with the author of this piece value , and therefore money, is being created. Just wish I had a $100b valuation to worry about.Norman Rosenbergwww.raineyrosenberg.comThe Internet still has a get rich quick/gold rush mentality. Sure Larry Page, Jerry Yang have gone from zero to billionaires overnight but for everyone of them there are thousands of businesses that are just not sustainable