Social Media Catching Fire Worldwide

Last April, Facebook passed MySpace to become the largest of its ilk in the US. But the race is still on and its happening globally according to to a piece on this morning's MediaPost.

The article states "Facebook has ... benefited from launching an effort at the start of the year to allow users to translate the site into different languages. Last month, the company said it would also begin to allow developers to translate their applications into multiple languages."

I can't see any of the players in Social Media making much money on the phenomenon. Where will it grow from here?