Are social networks ready for prime time?

A new article suggests that social networks (aka LinkedIn, Friendster) are gaining steam in popularity and function. In the past they have struggled somewhat in finding their place with online users. For job seekers, their allure has always been strong. After all its not what you know but who - that usually connects you to a job lead.

Social Networking 3.0
The third generation of social-networking technology has hit the Web, and it's about content as much as contacts.

If there were a competition for "Internet Buzzword of the Year," last year's winner would have been "social networking," as a cohort of companies such as Ryze, Tribe, LinkedIn, Friendster, Spoke, and Visible Path, rolled out new or improved services that let Web users create online mirrors of their circle of real-life acquaintances. The idea was mainly to let users build online profiles that advertised their interests and to help them connect with friends and friends-of-friends around one of those interests -- whether it be finding a job, making a sale, or repairing an old motorcycle.

But with the exception of Friendster and Myspace, the initial response to these services among average Internet users was sluggish. Many users signed up for one or more services, created online profiles, formed connections with a few acquaintances, and drifted away, uncertain about how to use the networks.

But today, not only have all of these companies survived; they're experiencing record growth, introducing new technology and new money-making features, and being joined by sophisticated new competitors such as iMeem. Moreover, they're joining the parade of sites offering "rich media" -- the big buzzword of 2005 -- by encouraging users to share their own content online, including photos, videos, music, and other digital files.

Read the full article

http://www.technologyreview.com/InfoTech-Networks/wtr_15908,258,p1.html