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I totally agree with you that the public conversation will not stop. I focused a bit more on my initial thought that once everyone can interact in a public manner, we might see a move back (or forward if you will) to smaller communities. I should have balanced this a bit more with the observation you just made. An interesting side point to this is that I believe that the mainstream web 2.0 business models (freemium and free ads based)are build for large communities. You need to scale big, to the size of Facebook and beyond to remotely become successful with it, or you need to have a targetted niche community. Once the web becomes more social, destinations such as Facebook become obsolete (not the service, just the portal). From that point on, business models need to deal with much smaller and targeted communities. That will enhance the user experience and provide the user and his friends even more value. Well written response!
Maybe I'm way off base, but our mass communication models are dying, but we have to re-learn how to really relate to one another. Otherwise it's just a system full of noise.
My own personal experience informs my opinion. I'm out here in San Francisco, and I've now got a connection to you over in the UK. To Alexander in the Netherlands (right Alexander?). These are connections I would never have made but for social media. I expect my kids to take that even further, not close the walls back in.
Here you go...