The important thing is that it's still very early in the social networking business. The leading company, the business models that work, the right mix of services, monetization and privacy -- all these things have yet to be determined.

And it's still true that Facebook has the home-court advantage: It's the only social network "mainstream" enough for you to assume that any random person on the street is likely to have an account. People are creatures of habit, and they won't leave en masse without a really good reason. The future is Facebook's to lose.

But can Facebook get its mojo back? Can they orchestrate an Autumn of Awesome followed by a Winter of Win?

Maybe. Either way, it's hard to imagine things getting any worse for the company than they are right now.

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