Do you really think that Facebook is earning big bucks? Think again. There is 'no revenue model embedded in its core business'.

Taken from http://www.fastcompany.com/magazine/125/nings-infinite-ambition.html
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"It would be very difficult for MySpace or Facebook to shift gears and directly offer a competing service to us," says Bianchini. "They have a huge set of technical challenges just scaling what they're already doing, and we have spent three years building a serious architecture and technology lead for what we do." She says one of her engineers compared that kind of course correction with "swapping out the engine of a 747 during midflight."
By the time Facebook -- or anyone else -- could do that, Ning may well have ridden its double viral loop to impregnability. Because once it hits critical mass, the road is paved.
Then no one can stop it. "