Has the social networking phenomenon peaked? latest figures from Nielsen//NetRatings show the first drop in monthly traffic to facebook and other social networking sights such as myspace, bebe and the business worlds linked in. The huge growth rate of social networking sites probably couldn't be maintained. Some users are becoming aware of potential privacy issues. Some may be put of by its mass adoption and no longer want in. But never the less the huge popularity of social networking will not diminish over night.