Social Media moves so fast, it's hard to keep up. Here's the week's big stories from the Social scene, in scan-friendly format. This Week: * MySpace to Trounce Facebook With US$1 Billion '08 Sales * Jobs Cut at Seesmic, but Digg is Hiring * Twitter Gets New CEO * Yahoo! Launches New Profiles, Social Strategy * Browser Wars 1: New FireFox Beta 3.1 has Geolocation API * Browser Wars 2: Flock Upgrade * Twitter-Watch: Joe the Plumber

MySpace to do a Billion Dollars in '08 Revenue

VentureBeat reports that MySpace is on target to bank a billion dollars in revenue this year. Surprisingly, they report that this is far in excess of Facebook's revenue expectations of around US$300m. Twitter meanwhile can't figure out a way to turn its success into hard cash, as Bernard Lunn at ReadWriteWeb 'helpfully' points out. Some interesting suggestions in the comments here regarding how they might go forward and monetize the product.

Seesmic Sheds Jobs, Digg Launches Recruitment Drive

Loic LeMeur’s Seesmic is a video-sharing platform for video conversation. It enables quick and dirty video-blogging, kinda like a Twitter for webcams and phone-cams, and offers a range of services to enable stuff like video comments on your blog and so on. If Loic or anyone else there wants to give us a better quick description of what Seesmic does, by all means do so. Unfortunately, owing to the impending downturn, they're having to "make some tough decisions around expenditure", and are letting seven people go. Seesmic is headquartered in San Francisco with outposts in Paris and Romania. While we can expect a lot more of this as the economy goes into lock-down, it's not all doom and gloom on the jobs front. Digg has announced "a major expansion effort – the largest we’ve undergone in our history". In order to attract the best and brightest they've assembled a list of the primary reasons why you should go work there, including a Dig-Dug machine, a surfeit of smelly dogs which patronise the office, and "Wine Wednesday".

Twitter CEO Dorsey Steps Down, Replaced by Evan Williams

Twitter Chairman Evan Williams and CEO Jack Dorsey have switched places in the boardroom, as things settle down after a hectic period of restructuring, funding, changing location, and fixing severe service disruption. Dorsey and Williams are co-founders of the project, along with Biz Stone.

Yahoo! Launches New Profiles, Social Strategy

Michael Arrington at Techcrunch reports that Yahoo! wants to become "one big social network". Yahoo! themselves talk about a 'new social foundation' for the company.The launch of a radically expanded Yahoo! Profiles, which "... is a centralized control panel that lets you manage your identity, activities, interests, and connections across Yahoo! — and eventually the entire Web". It's all part of the Yahoo! Open Strategy, which was hammered together last year with genuinely Open principles as an attempt to square up to Google and Microsoft's ever-increasing tentacled embrace of the social space. Arrington explains what happens now: "Over the next few months, they say, Yahoo properties will begin to integrate with the new profile. So if you answer a question at Yahoo Answers, for example, the activity will show up in your feed update. Eventually the front page of Yahoo Mail will show what your friends are up to as well. And one thing I really like - emails from your connections will be highlighted, so you can read them first." For more details, go to the Yahoo! corporate blog announcement.

Browser Wars 1: New FireFox Beta 3.1 has Geolocation API

Our own Chelsi Nakano looked at the new FireFox Beta this week, and reported on its new geolocation features: "With the integration of this [geolocation] JavaScript API, Firefox can now plot maps, give directions, attach location information to pictures, attach a source location to individual blog posts, etc. And although it exposes a single API to web developers, Mozilla reports that it “can potentially be backed by a number of different location sources. Examples include the Skyhook service, which guesses your location based on nearby access points, a GPS device in your mobile computer or hand-setting a fixed location where your desktop lives.” Mobile services which utilize geolocation are sure to make good use of this, like FireEagle and BrightKite. We'll be keeping close tabs on developments here...

Browser Wars 2: Flock Upgrade

Rival browser Flock done got a makeover this week too. Chelsi again: "Flock, the self-proclaimed Social Web browser, recently released version 2.0 with a few notable upgrades, including the integration of their most requested service, MySpace." Most of us ingrates don't use Flock, so it's worth looking at a couple of brief distinguishing characteristics : "1. The Sidebar: To the left of your browser is a vertical column that stays on the top ...[with]...up to date news feeds, social networks or favorite photo sites. Here you can accept new friend requests, update your status, view or leave comments... [etc.] 2. The Media Bar: This bar, which displays horizontally across the top of your browser, shows the most recent photos or videos from friends within your social networks. The two bars are ... convenient because you can drag photos from the Media Bar and drop them into Flock’s own blog editor or e-mail, and you can drag photos or text ... from web pages into the Side Bar if you want to share them with social network friends or post them to the Web Clipboard.... This, obviously, eliminates the need for tabs or multiple windows. " Interesting stuff. So what Chelsi's really saying is that you're all really stupid to stick with IE, Safari or FireFox. Send your outraged emails to the usual address.

Twitter-Watch: "Joe The Plumber"

Twitterers went crazy for Joe the Plumber this week. He may have lost his dream of starting his own business, what with Obama threatening to steal the gold fillings out of his teeth, but he won our hearts. It’s not our policy to be partisan, but it seems like they don’t let Republicans onto Twitter anymore. I mean, do a Twitter search and try to find someone saying something positive about Joe. Looks like the police state is here at last, and is being rolled out one social media platform at a time. Hurrah! Here's what the 140-char chattering classes had to say: @theotherelliott: Apparently Joe the Plumber isn't really a plumber. Republicans respond with @this statement: "Well heck, Jesus didn't do a lot of woodwork" @zzgavin: it would appear McCain fact checked Joe the Plumber as well as he did Palin @Elimare: Is Joe The Plumber related to Joe le Taxi? @Lawyer_Tom: I bet Joe the Plumber got so much ass today. @pundunt: McCain said, "My good buddy, Joe the Plumber". McCain pales around with tax cheats. Actually he never actually met his good buddy. @bethmueller: doesn't care about Joe the Plumber. @denverposttalk: Wasn't Joe Plummer in The Clash? @DarwinLovesU: Joe the Plumber is 3 and half inches tall and he lives in a box under my bed. LOL @lucasmeyer666: joe scandal? slander! he is still my candidate! JOE THE PLUMBER FOR PRESIDENT!