A VC friend recently mentioned that VCs are always slightly behind the curve, looking for the next big thing. Another friend reported that the next big thing is evidently under-25 year olds, because they'll truly "get" social networking.
What women have had to do for millenia is to build social capital. It wasn't all that long ago when women couldn't own property (and the idea lingered for a while, even in the US... one of the impetuses for "keeping your own name" when getting married was so that property could be listed in the wife's name as well as the husband's).
When you're not allowed financial power, and you don't have relative physical power, the only thing you CAN do is have a strong social network. I strongly question where there's any more low hanging fruit under the category "ways for young people to hook up using social network software," but you know, porn drives technology adoption, so perhaps I speak too soon.
Yet I believe that there are far more women and people of lower socio-economic level and cultural backgrounds who have fresh ideas in this area than 25-year-old upper-middle-class white men.
Indeed, in the first half of 2006, only 4% of VC-backed companies had women chief executives, and those companies with women at the top received just 3% of the total dollar amount raised, according to VC research firm VentureOne, in San Francisco.