VCs funding the social web

Om Malik, former "fish" (aka Red Herring journalist) covers some of the latest goings on in the social web space in this post, GigaOm: Essays: For VCs, Blogging is the Next New Thing. From what I hear he gets most of it right--even the fact that I'm working on a start-up, but his description is a little off! And I don't think there is a cap "S" in Feedster (where's the crack Herring copy-edit team when you need them!) He forgot to mention that Ringo was just acquired by eMode and missed the enterprise plays in this space, but it's a worthy post.