I think this is fair.

It's plausible that a FB sized company in terms of influence or some other metric could arise in India and yet not many or any people in the US would hear about them.

Not many people in the US out of the 310 million of us have heard of Tata motors yet that company has a market three times the size of the population of this country.

Thanks for your trust on India...your prediction might come true...

It's the market potential, rather than the country of origin, that I make and support my statement on. Though India is home to many intelligent and dedicated developers, I believe the next 'FB' killer will be developed in the States, but not for the States [market].

Orkut is quite strong in India... but theres plenty of market still to capture there so I Wouldn't be surprised if a couple of networks tried to capture that market...