In my opinion, Facebook has some time left but not much. I would guess that a new site will take over within the next 12 months. The transition will be similar to the one we saw a few years back when everyone made the shift from Myspace to Facebook.

Even though I am 20 and in college and am friends with everyone I know in real life, everyone I knew growing up and from summer camps, and many of my internet friends as well, I rarely go on anymore. It used to be a daily activity.

What went wrong? I think it just became so popular, had so many people that it wasn't not interesting anymore. We all have a little hipster in us - once everyone you know and their mother and their grandmother is using something, it starts to lose its appeal.

Lastly, Facebook had too much change. They could have updated it once or twice with fairly big changes and been fine. I noticed that I hated hearing about facebook or going on facebook when they were rolling out new privacy agreements and rearranging the site layout once a week.

There is a big potential for anyone developing the next social networking site. Who knows what aspects will make it popular though.