I too see the social graph opening up. However, in terms of “fad” I am not too bearish about Facebook’s continued success.

Yes, the internet comes in waves or fads. Companies come and go or evolve.

Facebook’s crutch is its user base’s addiction. They have effectively created a virtual zombie nation of 40 Million plus users around the world (with 200,000 more joining each week).

Perhaps most of the information dedicated to facebook is “worthless” – there are no open document programs, excel sheets. But there is a living rolodex of all friends past and present. There are pictures of memorable events that I did not take, but my friends did (and they are hosted on my friend’s page).

There are thousands of email messages between me and friends that I refer back to which are not available on my gmail account. I can not search for my friends on myspace or bebo as effectively as on facebook.

Is this a fad? Who knows. But this company will survive for at the very minimum a couple more years. They have smartly opened up their applications platform.

Facebook’s a smart company that will evolve with their user base.