What Does The Future Hold For Social Networks?

On May 26, the Frankfurter Allgemeine published an interview in which Google CEO Eric Schmidt admitted that social networks may not be a suitable venue for online advertising. While many of us have already come to this conclusion, Schmidt’s acknowledgement is newsworthy because it’s the first time that anyone with such status in the industry has conceded that some popular sites where people spend a lot of time may not necessarily be good places to advertise. So what does this mean for sites like MySpace, Facebook and Bebo? More.