Cameron Adams aka "The Man in Blue" has just made a brilliant post that sums up what the next generation of web applications (I refuse to call it web 3.0, but that is probably what it is going to be called) will be all about. Anyone building social media and applications should take the time to read it.
There is only one social network. My social network.
Flickr is part of my social network. Twitter is part of my social network. So is Facebook, Upcoming, MySpace, Last.fm, Corkd, Pownce, Del.icio.us and a host of other social sites.
The Man in Blue > There are no social networks