In my PublishAsia presentation in Macau I walked through a general business case for social networking as an integrated feature of a news website.
The argument goes like this: We have an audience problem. We can fix our sales incentives, train our people, tune our pricing and our packaging, and replace leadership as necessary. But at the end of the day we're going to hit a very hard wall. That wall is available advertising inventory that meets the advertisers' needs.