Ning is the newest thing (v2.0)

Ning is the Marc Andreesen backed free social network site (free as in, you can set up your own social network for nought).

"We are anticipating that there will be millions of social networks once users get used to the idea of social networking," Andreesen said. "Once that happens, users are going to want to build their own world around their own topics, towns, sports teams, books and movies they love, churches and families. ...We are going into this with a head of steam and with a killer product.

Robert Scoble talks to the co-founders: