The place for friends, that was the biggest social network for years, is now quickly dropping on the wrong side of its Internet Life Cycle.
It is very interesting to see that on the internet the lifecycles go much faster than in any other industry. I expect that this is a big opportunity for smart marketers and entrepreneurs. The market leader cannot only be challenged, it can also be beaten. You do that by trusting on a bigger, better product and using virality and time as your best friends.
Looking at the Dutch situation, it seems very possible that Facebook will takeover Hyves. It seems unrealistic right now to a lot of old thinkers. Though I think it is a reality that will come through within two years.
More about this news: http://www.guardian.co.uk/technology/2009/mar/29/myspace-facebook-bebo-twitter