The value of a social network is not in the functionality and technology itself. Feature parity should be achieved rather quickly on any new set of innovative aspects that a MySpace, Facebook, or anyone will introduce. Rather, like all media properties (whether digital or otherwise), a social network has value based on:
1. The information contained within it. In this case, the information about the friends and connections in network.
2. The signal value communicated to society about who a user is as a person. In this case, what being on a social network represents to others.

Essentially, what really matters is brand.

What does it mean for someone to be on Facebook? What does it mean to be on MySpace? What does it mean to be on the dozens and dozens other general-interest social networks or vertical ones which are profiled daily on Mashable. In other words, what does it say about you, who you are as a person?

Labels: blogging, branding, social networks