The social networking site--now self-labeled a "social entertainment" hub, a subtle reminder of its failure as a "social network"--used to be hot, the place to learn about parties and all things cool. At the peak of its popularity it was like Facebook is today--a cultural phenomenon, a dynamic and engaging alternative to snooty invitation-only sites like Friendster and the suit-and-tie LinkedIn.

Then it got older and . Social networking grew up also.

Social Network Morphs Into Social Web

Social networking expanded from junky pages of blinking Flash art to become a fulcrum of media swapping between friends via photos, videos, and links. "Likes" became Facebook Fan Pages. Addictively fun games, , thrived on Facebook.

Facebook saw the potential of the social Web that was different than a static social networking site. It dared to irk users, reached out to business, pushed the privacy envelope, and now Facebook "Like" buttons are plastered on billions of Web pages, merchandizing not only companies but Facebook itself.