People are wondering why on earth a bunch of venture capitalists have just invested $10 million in struggling “Friendster.com” The original pioneer in the social networking arena that quickly fell from grace, leaving the field wide open for better architected sites like MySpace. Well, it would seem that the VC’s are not necessarily looking at attracting acne encrusted teenagers away from the more popular sights. What they’re really interested in is a patent, granted in June, that describes the use of online computer systems to help people connect and communicate with each other, and to see and manage those relationships, "within social networks." It had been filed in June 2003. In other words, this patent could provide some legal leverage to the company if it decides at some point to sue the crap out of its rivals, from the massively popular MySpace on down. It could end up earning them billions! Who needs technology when you can hire a bunch of lawyers?
Friendster Tip #1: Never go out with a lawyer!
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