I forgot where I read it... but someone recently said Facebook is becoming like Twitter, Twitter is becoming like Myspace, and Myspace is becoming like Facebook.
Facebook has been incorporating features from Twitter and Friendfeed recently. With the redesign of the home page, Facebook users are seeing a feed of updates (aka wall posts) from their friends. Similar to what they would see on their Twitter homepage, except the content is richer - not just 140 character text-updates.
Facebook is intent on not letting a new social network leapfrog them. Just like how they leapfrogged Myspace, and Myspace leapfrogged Friendster. And they've come out and said they need to constantly innovate to make that happen.
For example, they just released their activity stream API which opens the door for a lot of 3rd party Twitter apps (like TweetDeck, Seesmic, etc) to do the same thing for the Facebook feed. Twitter's been the media darling for a while now, and Facebook wants to make sure it doesn't crash their party.
With functionality merging like this, it'll be interesting if Twitter can really cross the chasm like Facebook has. Would my mom use Twitter if she can do the same thing on Facebook? (no, she doesn't watch Oprah)
Can you imagine a day when there are more of your church's members on Twitter than on Facebook? I can't...

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