There are many social networking, but if you are looking to find one that can really generate income from the internet is Twitter. This one incredible social networking is very powerful for many things i.e. Personal Branding,Get Feedback,Hire People,Direct traffic,Read News,Make New Friends,Network for benefits,Use it as a ToDo list,Business Management,Notify Your Customers,Take Notes,Event Updates,Find Prospects,Provide Live coverage,Time Management and Analysis,Set Up Meetings,Acquire Votes. All you have to do is register for FREE, then start following people (which match your interests etc) in order to get followers. The more you have followers, the higher chance to earn more income. Logically, more followers means more traffic, so it would be easier for your next step to market your website,affiliate marketing programs etc (many kind of monetizing site can be added to twitter with links, RSS feed and API. You can also implement many programs that specialized to add more followers automatically,so you are not being busy doing it manually. Google it for more informations about Twitter and how to monetized it, I guaranteed you're gonna Love Twitter.