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However, if someone gets hold of it and tries to wield it against every social network, that's just not going to work. Also, it's highly possible this "patent" is invaded because so much prior art exists. Classmates.com came out 6 years before that patent and more or less has similar features.
Even if the patent is valid I wouldn't think it would mean all social networks would have to shut down. That would be like saying, "Ford built the first automobile and patented it, so it is illegal to make automobiles unless you are Ford." Every social network has it's own version of those ideas... which were taken from other companies... which were taken from pre-web ideas, and so forth.
Thus the old saying: "There are no original ideas."