The bubble in social networking has burst, decisively. LiveJournal, the San Francisco-based arm of Sup, a Russian Internet startup, has cut 12 of 28 U.S. employees — and offered them no severance, we're told.

Users of LiveJournal call it "defriending." As terrible as it sounds, defriending's not really that bad; it just means you're bored with someone and don't want to hear about their issues anymore. Or share yours with them. That, in essence, is what Six Apart, the San Francisco-based blog-software company, has decided to do with LiveJournal, the online community it acquired from Brad Fitzpatrick in 2005. Andrew Anker, Six Apart's vice president of chopping the company into little bits for convenient and lucrative disposition corporate development, orchestrated the sale of LiveJournal to Sup, a Russian media company which already runs a localized version of the site. With the sale, Anker and the rest of Six Apart's team are letting LiveJournal know, as gently as they can, that they're just not interested in its problems.

Since acquiring LiveJournal in 2005, Six Apart has gotten little but grief from the blogging site. Now, at last, it's gotten some cash. The San Francisco-based blog-software company has sold LiveJournal to Sup, a Russian media concern. Ostensibly, the purchase of LiveJournal two years ago was meant to improve Six Apart's Web technology and accelerate its entry into ad-supported blog publishing. Instead?