The New York Times "Your Money" section offers up a precautionary tale to all of those entrepreneurs who think they'll be the next Google or YouTube. Back in 2002-03 when online social-networking was just beginning to get traction, the biggest player was Friendster. Google offered owner Jonathan Abrahms $30 million for his product. he declined. Had he taken the money and stock offer Abrahms would be worth over a billion dollars today. Not bad for one year's work back in 2002.

Instead, Friendster has slipped down the scale of social-networking properties to rank in the mid-teens. it still is a worthwhile property but . . .