It's been a while, eh? Sorry. And I'm off to Argentina on Saturday, so I won't be updating for a few weeks again.
In the meantime, I'll modestly leave you with the future of social networking.
I think one of the best applications of Web 2.0 thinking is Betfair. If you don't know it, go and join. Even if you disapprove of gambling you need to see it. It's a peer to peer betting service - you decide what odds you're prepared to give, that is entered into the market and other people decide if they'll take those odds. Unless someone has offered better odds.
They have released a game called TaiKai. This allows you to create a betting markets and gamble fake dollars on the outcomes. The genius bit is that you can then invite friends to bet on the same market. You pay to play - from £3 to £250 - and the person who bets best gets the pot.
It has some very well thought out social networking tools - the ability to make friends, a wall, message boards and tournament news.
I reckon it squarely meets Joshua's criteria of having personal or small scale value first, then expanding. I know a lot of friends who don't use Facebook much but who will be all over this when the football season gets going again...