We recently met with a well-known VC who offered the following observation (I am paraphrasing):

At its core, Facebook is pure entertainment.

It helps people waste time and feel important – and that’s good. However, we believe that there is an opportunity for a company that does the exact opposite of Facebook. Instead of helping a community of people waste time and be entertained, this service would help them get work done and accomplish productive things. The potential market is enormous.

Indeed.