Why Are Social Networks So Addictive? [OPEN THREAD]

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The panel, which was moderated by Loïc Le Meur, the founder and CEO of Seesmic, included Google's Vice President of Search Marissa Mayer, professor and author Clay Shirky, Linkedin Executive Chairman and founder Reid Hoffman, the Archbishop of Dublin, Diarmuid Martin, and several other great thinkers.

With the average time spent on social networks accounting for 22.7% of our time spent online, the panelists attempted to answer why social networks are so addictive, but more importantly, addressed how they are changing our lives.

We'd like to open this question to our readers: What is it about social networks that makes them so addictive? And have how they changed your everyday lives? Let us know in the comments.

Mashable's CEO Pete Cashmore is attending the summit. He will be posting his observations and photos later in the week.