There's been as much work done on the protocols as is doable without a significant user base. But there is no user base because hosting a social network costs money.
"Social Media" today means video sharing. Hosting that requires a revenue base of some kind.
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What market? There is no market for social media service.
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Oh *that's* where the "50% of email accounts" are hiding -- ISP mail accounts that nobody uses. OK, ISPs could host a chat service extended from their mail service.
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Haha, no, they actually still get used, but usually by "older" folks >50
End of conversation
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