Friendster, Myspace, Facebook being the mindset of Social Networking ... There is a lack in understanding Flickr, Youtube and GWW are also Social networking sites.

Where, as I see it, the point of this thread is slightly vague in that it stamps on the "social networking" label but doesn't define it truly to a point of ABC style.

I mean really, 99% of adult social networking sites are going to fail.
Well maybe it did. Qpeeps and Xpeeps. Those two "adult" networking sites being based on the friendster/myspace model.

What makes someone who is making maybe $500 a month think they are going to do a better job than a company with thousands to invest every month?
I don't think it's about your spending cash at all. (Minus your programming costs) I would say it has more to do with your hook.

Jock bod, gay .com and mygayspace. Bebo, ModelMayhem and oneModelPlace. DeviantArt, Istock and OutinUSA.

Social networking has been around for quite some time. It's the face that changes. The branding, the functions and the hook.

So, the simple idea of Social networking being dead in the water is not true. Not even close to true. It's the core of the internet.

The argument is simply in the presentation.

Side note - Myspace was just a clone of Friendster but their hook of getting bands to join and letting John and Jane Doe befriend them, make a profile and add a personal touch.

Friendster was just a clone of Circle of Friends.

It's the HOOK, not the site.