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See this list of "White label social networking" sites
http://www.web-strategist.com/blog/2007/02/12/l...
you should be worried (or curious) when $44M gets invested into a space that nobody cares about
As if it isn't hard enough to find good technical help already, now they're going to suck up every halfway decent geek and his dog.
At least the bandwidth will be there, one would hope.
I want to know 2 things, will it better my chances with the opposite sex, and will it further my career opportunities.
If Ning, or some consortium of existing social network sites could make all such things cross-communicate, then you could pick the one or more that you want to most frequently interact with (let's say your old school for example) and still have a "presence" in the others.
Ning makes this possible, of course the possibility isn't realized until Myspace, Facebook and all the others become Ning driven (no I don't expect that to happen). But Ning DOES have the potential to make further development of specialized social networks unnecessary. I think that potential may be behind the optimistic valuation (having a very famous founder doesn't hurt either).