Brad from Union Squares, produces one of those seminal posts asking the right questions, that I see aligned with how social networks are evolving.  Hat tip A VC.

The progression to date has been up the stack in a classic architecture diagram, data is on top of that stack, and nothing sits on top of the data. I disagree.

The genius of Craigslist is in its governance system. It is its lightweight governance system that allows 21 people to administer 300 sites in 35 countries. I believe that the basis of competition in web services will shift from the data to the system that manages the acquisition, and use of that data. The governance system that yields the most utility for the largest number of users with the least overhead will ultimately manage the largest communities with the most valuable data.

Source: What’s next? | Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

I would dispute that the next level is governance though we might end up saying the same thing, and disagreeing on the word.  I would argue that its the technology presentation of simple communication between buyers and sellers, while retaining privacy, until the two are ready to talk.  I’d call that trust management, rather than governance.  Trust management is the retention of privacy for all matters except those required, and by permission to ensure trusted communication.  There is also the implied permissions resulting from the withheld privacy attributes that while silent (retained by the exchange) can be relied upon by buyers and sellers.

The distinction is important.  The next big thing online is obviously social networks, peer advice, social de jour …..

To make social de jour work, requires trust.  Trust is required between buyers and sellers that don’t know each other.  EBay has kicked this off, with solid e-commerce implementation bases upon online trust, between unknown parties.

I can see governance required at all levels, but its too generic to provide valuable guidance.