Bill Burnham has another enjoyable post in which he trashes developing VC frenzy around the social networking scene.  Like him, I see little value in current crop of social networking companies.  It's no more compelling than standing bare naked in a large hall with thousands of people, mostly strangers, with nothing to do except talk.

Blogosphere is a social network of sort, but the social network is a by-product of the blogging, meaning social network is the effect rather than the cause.  Social networking companies are attempting to go in the wrong direction.  Another major difference is that they are building closed social networks where blogosphere is an open social network.