Since social networks gained popularity extremely rapidly, there had been a debate as to whether social media was a fad. There are countless pieces of evidence now proving the contrary, among them the explosion in Twitter growth and Facebook's public listing.
While consumer social like Facebook and Twitter gets the headlines, perhaps the greatest untapped potential for social networking lies in business applications.
Facebook, Twitter and Google have all opened offices in Brazil, recognizing the importance of localizing their products and customer service efforts.
I don't know how many times I've turned to Twitter and Facebook to commiserate and celebrate, bounce ideas off of friends, colleagues and other entrepreneurs, and just connect with the wider world outside my office.