I remember having this conversation at Startup School last year with some very smart hackers over dinner. The overwhelming majority felt that Facebook was exactly that, a fad like MySpace or Friend or whatever, that it won't be around in 5 years, that they don't have any real technology, etc. I was the only person who disagreed. I argued that they have an amazing team, that they control the most accurate and real soc…
All of these social network tools/sites will have their momentum. But thus far, none has been able to maintain it for more than 5 years. If Facebook could be bigger in its 6th and 7th year, then Steve Ballmer will eat his words. Until then, the fact that social networking site is a fad stands still.