It's not a voting problem, it's a scaling problem; I believe. Simply put: social news sites don't scale very well. As communities grow: 1. You and I can't get things on the home page any more. It becomes only for the well connected. 2. Subjects lose focus. 3. It becomes a gold mine for spammers. They'd do anything to game the system if they can get 234,000 visitors from one post [1]. The solution, I believe: Keep com…
At the same time, monetizing eyeballs requires lots of numbers. I guess the solution then is to make a site that feels like a ton of people are there, but still operates quality-wise as if there's a small community actually controlling the content.
Restrictions are sometimes good. Compare Facebook to MySpace. With MySpace it's one huge community; everyone can see everyone. With Facebook, you can only join a small set of networks. You cannot even join San Francisco and Silicon Valley at the same time. True, people hate it, but it keeps the system manageable as it scales.
This is a subject I'm interested in and trying to build a startup to address it.