I think the next Facebook does exist, Trig.com
Not only does it have the basic features of FB it has more- group chat, page and IM translation, sub groups- but more than that it gives value to the user for time spent online with both activity credits to spend on all the partner company goods and services as well as a bonus plan for all the multiple levels of friend connections you bring to the site.
Music/film downloads, gaming, cash back at all the major online stores, cloud services, financial services etc. are now landing.
Invitation only at present but it will open up in due course.
4 million registered so far.
Looks like they are cracking the big social media dilemma - how to monetise on the users. None of the big guns are currently succeeding at it.
With a young person's version in the wings too, Trig could be a winner.
Trig was seeking to be a 'Myspace for musicians' back in 2007 but only took off in a few nations. It has resurrected and could be a major player time around.
Oh, for those who do not want to discontinue FB, Twitter or LinkedIn, it is fully integrated and and seeing feeds and posting from Trig elsewhere (giving credits of course) is very handy.