I still think that a killer social network could be started from LiveJournal source code, just push the profile out front and rearrange the layout a bit. Treat the "journal" part as just another feature on the periphery. Of course, I'm biased, since LJ was the last centrallized social network I really cared about.

Man, Valleywag's really been on a Yahoo! bender lately. Did someone from our side of town pee purple and yellow all over their cheerios in the past month or so?

Hello world. I like oatmeal for breakfast.