For a change I made my prediction public on the blog unlike my mostly private observations of many other technology trends. With facebook said to be valued at 15 Billion USD, social networks are flying high on the radar screens. Now Sequoia Capital's 7 million investment into Minglebox looks like a possible future winner.

After Blogging and P2P the next wave has already begun. Social Networking. Social Networking sites are now blooming by dozens.
The older dating or alumni sites could do well to adopt the generic relationship model that a Social Network offers.
Social Network: When viewed from the perspective of an individual its a weighted graph with other individuals as nodes and paths having their weight equal to the trust. And trust is inherited through this network.