With so many changes and restrictions to the latest update on LinkedIn, it does beg the question of why there hasn't been any meaningful competition to LinkedIn since its launch.

Will there eventually be another Myspace-Facebook situation where someone will wade in and topple LinkedIn off its perch?!... probably not i think the market is too established now for someone to come out of the blue and snatch the baton.

That said it does make me wonder why no one has even attempted, I mean for every other product out there there is 100 others trying to do it better and cheaper (or cheaper and worse...a lot worse).

What are your thoughts, Do you think there needs to be competition for LinkedIn? or is everyone happy with them having the monopoly.