Earlier this week, a VC told me that “social network” has become a taboo word, even though just last year you saw a herd rushing towards more investments in the space.

Yesterday, eMarketer slashed social media advertising estimates, with Facebook’s downgrading in tandem.

This morning, an executive I know whom had left a quality programmer for a social media network all of a sudden pulled a 180-degree turn and got back into content.

Hmm.

Is it just me, or are you seeing a flight to quality programming and the validation of the “content is king” mantra rising?

Bear in mind, Sumner Redstone coined that term, and he just plunked $1.8B for CNET.