Boing Boing had this on monday, but I've been busy with work. This is interesting and important. Everyone's been casually aware for some time that social networking will be a big part of how the next generation will organize. Seeing it happen is exciting.

Also, your social networking technology isn't worth anything. The userbase is worth something, but good luck trying to keep them. These groups who are doing big-money deals for these tools are going to end up disappointed, unless there's some sort-term payoff (like datamining the user database for marketing information) that I'm missin.