The author seems to be confusing social media with the entire web industry. Zappos, Threadless, Etsy, Basecamp... there are plenty of newer sites making money by charging for goods or services.
As far as innovative revenue models go for social sites, I've always held LiveJournal in high esteem. I don't know the status of the site today, but five or so years ago you could buy a premium account then pay for add-ons: more photos, privacy features, and the like. Last time I checked out WordPress they did something similar (pay $5 to get custom css, etc).
As far as innovative revenue models go for social sites, I've always held LiveJournal in high esteem. I don't know the status of the site today, but five or so years ago you could buy a premium account then pay for add-ons: more photos, privacy features, and the like. Last time I checked out WordPress they did something similar (pay $5 to get custom css, etc).