It seems that some folks have seen a business opportunity in developing an open source social network platform. From Insoshi’s website:
Insoshi is a product and a project. The product aims to be the best open-source social networking platform. The project is to make the product!
I posted my perspective on such an endeavour about six months ago on OS Social Networking Application. I thought for a while that Elgg had the makings of such a platform but it never really took off, except in a the educational field. We’ll see how Insoshi does and it’s good to have several OS options. I know that it will be a platform that I will look at for my clients.
I found out about Insoshi via Dan Martell on Twitter, so I’m sure the team at Spheric Technologies will be playing with it soon.