News organizations have been struggling to sort through the challenges of social networking and their applications to conventional media. Newsrooms I know use Facebook and MySpace for gathering content, and I belong to Linkedin and other social and professional networks for their excellent connective purposes.
The allure is the interactivity and functionality of sharing content and using generated content. But the downside is, well, no one's really making money on the model.
This week's Economist has a compelling take on how social networks may be a big part of the Internet, but not really a business model.