From Mark Zuckerberg’s letter regarding Facebook’s IPO:
By helping people form these connections, we hope to rewire the way people spread and consume information. We think the world’s information infrastructure should resemble the social graph — a network built from the bottom up or peer-to-peer, rather than the monolithic, top-down structure that has existed to date. We also believe that giving people control over what they share is a fundamental principle of this rewiring.
I think the term peer-to-peer was misused here. I think I know what Mark is trying to say, but let’s keep this straight, Facebook owns every bit of content that is shared on their site. They are the master gatekeeper of information in being passed around on the site. It is not a decentralized social network. It is owned.