There are some misconceptions about Friendster. Different people use it in different ways, but journalists seem to think that there is one way you're supposed to use it. Then they think that what they hear isn't what was intended. Then there's the concept of imitation only. There's this site called Orkut that's kind of gimmicky, but it won't be that way always. [fastcompany]
Reading the speech inspired me to check out my friendster page, where I was disappointed to find that my once seemingly giant network has been divided into 1st, 2nd, and 3rd degree friends. While this is much more practical and honest, it really isn't quite as much fun.