Ask HN: Should there be a not-for-profit social network?
Facebook and the like will always be around and they have their place, but many people don't want to be at the mercy of a for-profit organization when it comes to what happens to their personal info. The specter of targeted ads and data mining just don't appeal to a lot of people.
If the model was more open-source and not-for-profit, then you don't have to try to balance user privacy vs. company profit.