Social sites are hot, hot, hot

Call it Bubble 2.0. Cook and his 16-year-old sister, among others, are on the verge of striking it rich with community Web sites. The Cooks’ rivals include Jay Gould, 26, who sold two video-sharing sites in December, and Greg Tseng and Johann Schleier-Smith, both 26, who got $7 million in venture capital from Mayfield Fund of Menlo Park, Calif., that same month for teen portal Tagged.com.
http://www.businessweek.com/magazine/content/06_12/b3976444.htm