A lot of people are jumping on the Myspace bandwagon by creating their own social networking websites to appeal to different niches within different demographics. Myspace is a place for everyone, now web programmers and developers are narrowing their focus because they know a niche can make them rich.

Due to this increase in social networking websites a lot of people are calling this another internet boom. People are creating social networking websites for a few hundred dollars and getting big offers from venture capitalists to sell their websites for millions of dollars. The main reason venture capitalists want to purchase these companies is because they know the advertising revenue from these companies can be very high. The under thirty market is a difficult market to reach but social networking websites put a lot of people all in one place, making it easier for advertisers.

Even though people are making social networking websites, and others are willing to buy them, the bad publicity that they get for being unsafe, as well as a future saturation of the market, from too many people starting social networking websites, is going to leave some people that try to jump in on this new internet bubble in the cold.