"14/N The current story is NOT that Facebook is "being replaced" or "faces challengers." It has ONE BILLION USERS. <--not even hyperbole
15/N The story is that there are new hacks other than the social graph, which support social value not easily convertible to ad dollars.
16/N Networks like ~Club are an adaptation to a Facebook-dominated social landscape, not a challenge to it.
17/N=17 These services aren't a new way of creating FB-like value. They're a new way of being valuable in a world that already has Facebook."