Panel discussion at the GSP EAST conference moderated by Frank Gruber, panelists from KickApps, Mixer, Userplane & 

Key points:
Joining social networks can be like joining a gym membership – panelist suggest subscription model can work.

Biz models:
There have to be compelling reasons for ppl to comeback to the network
Monetize ad inventory within your network usage model on set CPM rate

Reflections / Lessons Learned:
-launch & iterate just go and change while its out there, don’t meet to death, you’ll never get to the total features you want out of the box, develop core features and go from there
-be true to yourself and don’t chase the money! Be passionate about what you are doing
-know what your good at and do that, hire people for your weaknesses
-listen to your community – really listen, show their input making an impact
-launching a microsite on MySpace may be
-you need to OWN your database before starting with using a service, this can also be monetized
-get something out sooner by using a template driven site, launch now and upgrade later