Facebook, F8, and the Future

Everyone's going crazy this morning about the new Facebook updates, but tomorrow the biggest, most aggressive updates will be revealed at F8. This is going to shake everything up, by combining media and entertainment into the social experience. It's a Facebook world, and I think every other network is going to be playing catch-up for the next five years to compete. Sure, Google+ has made a name for itself, attracting over 25 million users, but they're all techies. Sure, Twitter has a ton of users, but many of them don't actually tweet. Facebook continues to get better and I believe businesses have to get up to speed and use the network to talk to consumers.

What do you think? Are there any other social networks making a run at Facebook?