Rumors are currently wide spread that Google is working hard on a new social network. Nevertheless, these rumors all bring from the past unsuccessful stories from Google itself in the networking field. Examples such as Orkut, Wave and Buzz.
It is important to understand that Facebook is failing in many features at a time. The most important feature where Facebook is failing is in its users privacy. It has a way to personalize those features, so you can decide what do you want to share and what you don't want to share, but the process is a little bit too complicated.
This means that if "Google Me" comes up, and fix the privacy problems and implements all its easy to do way of doing things, Facebook privileged position in the market is going to be soon in dispute. We still don't know if Facebook is going to finally meet their rival, but it is important to discuss that possibility as all of the bad things int has are openly discussed and why not this can lead to be fixed.
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