Google does several things astoundingly well, including search hosting, email and online video via Youtube. But social networking, despite attempts like Orkut and Buzz, elude the internet giant. At the same time, Facebook has topped 500 million users, many of which probably consider the site to be THE internet for them.

Google isn't ceding the internet to Facebook just yet. Rumour has it they're working on a "Facebook killer", starting with approaching Facebook game titans like Zynga, Playfish and Playdom and getting them to come onto their as yet unnamed network. Previous rumours also indicated Google would call the service Google Me, though there's been no confirmation of the name. 

In fact, Google CEO Eric Schmidt isn't about to confirm any plans for a Google social network, he even goes so far as to say that no one wants more of the same in the social space.

But given Google's reach, tools, and brainpower, it seems unlikely that the search giant won't roll out SOMETHING to take on Facebook. It just remains to be seen on what that maybe.