What Facebook hasn't picked up on yet is that Social is "search" and "search" is Social. They are two sides of the same coin (pun intended). Search is a powerful economic engine because it marries people who are searching for something with people who want to sell it. But that is ultimately a singular experience, in our day to day lives we are ultimately affected by our peers in our commerce, we want to know what movies they like, what clothes they wear, etc. We want to fit into our group, its instinctual, and as folks have known forever that drives fashion and it drives commerce. So the economics of social are the same as search, except contextualized by your social graph.
By all accounts Google understands that and they are making good progress with G+, Facebook still doesn't quite get it and they are vulnerable. The only question in my mind is will FB figure it out fast enough to stay relevant, and if so can they execute on that understanding. If not they are toast and Google wins.
[1] http://www.google.com/finance?q=NASDAQ%3AFB&fstype=ii...
did you actually read the post or your position is to say that Social Networks like Facebook and Google+ have reached a point of evolution beyond which not much can happen? In particular that world can't be disrupted?
It's not because you are making money today that you'll be making money in 12 months.
Don't you think that Social is about "friends" not "followers"?
Is a Social Utility, a la App.net, the right architecture for that? I don't think so, Google can change the game and own that space, if they choose to.
What's arrogant about that? Maybe you need to re-read the post.
G+ Circles aren't these micro social networks, communities are.