Have we got too many social networks?

The world is full of different social networks that provide different services, but are we running out of space for the new ideas and networks erupting on the web and now on mobile devices? Are the dominate networks like Facebook, Twitter, YouTube and Google+ taking over all the space, leaving no room for newbies like Path, Vine and Snapchat? Or do we live in a world where one can have dozens of different networks, all used in some different way.

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