How Many Social Networks Is Too Many?

from the my-goodness,-make-it-stop-already dept

I keep reading about all these "social networking software" plays, and the amazing thing to me is that, unlike during the last bubble, everyone except people working for these companies or venture capitalists seem to know it's a bubble. Yet, they keep on coming. The latest is that Evite has launched their own version of Friendster tied to their event organizing system, and eMode (known for their fun tests and dating system) has changed their name to Tickle, which is what their Friendster wannabe is called. They also bought another social networking service, to take one of about 100 off the market. Who the hell signs up for all of these systems? Patents aside, there is nothing complicated in creating such a site (there's even one Friendster rip off called Yet Another Friendster Rip Off). The complication comes in actually making money from such a site. The odd thing, though, is the rampant skepticism about these sites. In the 90s bubble years, it was never like this. Sure, there was some skepticism, but not the near universal skepticism that is focused on social software space right now. What's funny is that you would think so much skepticism would make the VCs stay away, but the reverse is happening.