Justin Williams wrote an article on carpeaqua, The Social Networks. It was about which social networks he uses and his normal use for them. There were some interesting insights such as his Twitter etiquette and absence from Flickr, I recommend checking it out.
MG Siegler wrote a response on his blog and the last paragraph caught my eye.
Williams broader point about social network overlap is a good one. Most of us are at the point now where if a new social network comes into our lives, it means getting rid of an old one — Flickr -> Instagram, for example. That’s a pretty big problem for new social networks going forward. They can’t just be good, they have to be really, really good to make up for a switching cost.
This is when things get exciting, or rather are about to get exciting. Almost everything we interact with on a daily basis is a better version of the thing that came before it. Whether we're talking about the laptop you use every day, the car you drive to work, the carabiner you use at the rock gym or even the shoes you wear. Everything replaced an inferior version, for the most part. (John Siracusa would argue against toasters I am sure.) Things like Facebook, Instagram and Twitter are only going to get better or be replaced, just like that StarTac in your dad's junk drawer. I just can't wait to see with what ideas come next.