This is a very interesting Video from Gary Rivlin, a reporter from the NY Times:
NY Times Video Link
He talks about Friendster
; How they became one of the largest Social Networking websites to becoming now an "also ran."
He interviews Ken Lindstrom (CEO of Friendster) thoroughly in this video.
Mr. Rivlin sees growth in the Social Networking industry.
I found Gary Rivlin's comments as an industry outsider very interesting. He described that executives in the social networking industry "suffer from hubris" and how such personality issues generally work against the company.
I've spoken with Mr. Rivlin several years ago. He is a very thorough reporter and he has an ability to understand a market quickly.
Social Networking Conference