"Social Network" is the new "Portal"

Lately, a number of projects I've come across have made the obligatory reference to being "a social network".

The term has become nearly as meaningless as 'portal' was 6-8 years ago. Everyone wants one, no one knows exactly why.

A funny comment from a TechCrunch article helps put it all in perspective:

I’m starting a new social networking entity called Life. The way you participate is you first turn off your computer, then get the **** out of you house and do things like a normal person would.