Will Social Networking Ever = Money?

Interesting reflection on financial side of social networking. Was at the techie Flag and Bell pub crawl last night (at the Exchange Bar in China Twon to be precise) and was talking about this subject. I think the key is in the niche use of social networking, but then I would say that as that’s what I’m interested in: medical imaging professionals (eg radRounds), accountants (eg ION) , Brazilians (eg Orkut), and social networking:

“Someone, somewhere is supposed to be raking it in from social media—but we never have figured out who that person is (unless it’s Mark Zuckerberg). We see the CEOs with their millions, and everyone wants in on the wave of the future, either in an IPO or working for the company behind the social network, or establishing their own.

“But is there really any money to be had? Last week, social networking darling Facebook, still a privately-held and VC-funded enterprise, allegedly leaked its financial projections for the year. The outlook isn’t exactly what you’re hoping for in a company that is supposedly worth $15B..”