No doubt, Google+ is pretty slick, from a tech/UI perspective. It combines good elements from both Facebook and twitter, with a spartan google feel. It is powerfully integrated into google’s suite of products, like picassa and gmail. It is a major improvement over buzz. Google plus should get more interesting as more people use it.
Still, I think it may be too ambitious though, which will eventually cause it have unworkable privacy issues. They want to provide a master social network, which requires a complex, granular privacy model. They have created such a privacy model with the “circles” implementation of groups.
However, my thesis is that consumers will opt to belong to have 6-12 specialized social networks each for a specific content or activity vertical. For example, FB for photos, twitter for interests, linkedin for resumes, zynga for games, SocialFeet for commerce [disclaimer:I am a founder], etc. Each of these networks will have appropriate (but highly differentiated) privacy models, and users will basically adopt the default privacy model for each in a binary yes/no decision. As Fred Wilson blogs:
You either want to be totally public or totally private, but never sort of private and sort of public. It’s just too complicated to be semi-private. That middle ground is treacherous.
Could it be the one social network to rule them all? Fairly unlikely. My guess of what happens to google plus: it gets co-opted by some geography (like urkut) or vertical segment and becomes a niche social network of some sort that survives. So far, the most interesting segment is about google itself (like Sergey Brin’s kite boarding pics from Alaska) and the twitter-like public discussions.
It will be interesting to see how it plays out, especially as Google continues to experiment with social at such a large scale.