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The reason these companies are are rushing to get products out the door is because whoever is a player in this space is likely to control user data over the long run. If users don't have to put profile and friend information into multiple sites, they will gravitate towards one site that they identify with, and then allow other sites to access that data.

The main problem with "social networking" isn't just that your "social" life has corporate boundaries. It's that your personal choices do too.

Who controls your data?