I have a few ideas. It it a much easier way to network. Linkedin seems to be the ultimate way to do that nowadays.
Also, it is the enemy of suppression. Thanks to social networking some time ago, China was not able to keep people out of the loop about corrupt things certain Chinese officals were doing, since those who were in the know were able to share their information with everyone they knew and then it went viral.
It is a much more effective way to set up events than calling everyone by phone would be. All you have to do is send out a message to everyone and then wait for them to reply online.
I've learned firsthand that it would make a great substitute for company meetings. When my company has meetings, everyone is in a hurry to get back to work, so no one gets to finish their sentences, everyone is interrupting each other, and no one understand what anyone else is saying. As a social network, or at least an online forum, it would be much more orderly and would not force us to stop what we're busy doing. People would have time to think about what they wanted to say, and post it without being rushed and everyone who had a response would have time to respond.
That's all I have for now.