Facebook Vs. LinkedIn for Business Networking

Social networking and business networking are not the same. It's clear to me that Facebook is winning the Social Networking market. It used to be clear to me that LinkedIn rules the Business networking market.

But now as the Facebook/LinkedIn debate heats up, I find myself straddling the fence, which, I'm sure you know can get uncomfortable after a while, especially if there is barbed wire at the top. :)

Facebook is a lot more interactive (and easier to game, but again the topic of another post).
LinkedIn does a lot better job segmenting & valuating contacts, and gives more complete professional profiles, but has gotten so sensitive about Spam related issues that they have effectively turned-off half of the embedded capabilities in the network.

Here is what I wrote in a recent Facebook post (I'd share a link except for the walled garden implications, but that is for another rant, er, um, I meant post...) about my biggest facebook problem:
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I have 2 very distinct communities of Facebook friends- Social and Professional.

Sometimes I want to post an important business link, or items from my professional blog. Honestly, most of my friends don't care.

Sometimes, I want to share a stupid or funny link with my friends that may be inappropriate for the workplace.

So items that I might otherwise post, get left off in the name of caution, but if I could be sure that my content would get into the right hands, I'd be able to be less restrained in that regard.

One friend suggested maintaining two different Facebook accounts with two distinct networks for this purpose. But isn't that a lot of work with no real added value? Beside, the login cookie won't allow me to be logged into both, so I'd be constantly logging in and out.

The solution is simple: Allow us to create separate news feeds, and choose which activities go where. Friend notification can go in my general feed to all of my friends. My blog gets imported only to the feed seen by those I designate as professional friends. I can have a status for each group. When I post a link, I can choose if it is for my general, professional, or social feed, etc...

Now before everyone points out that FB is targeted to college and High School kids who don't have that problem- it is also a haven for young professionals and technology professionals, and today's college users are tomorrow's professionals, so this problem will aggregate.

Isn't this evolution obvious? Hello? Is anyone at FB listening?
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Facebook needs to do three things to render LinkedIn obsolete, and none of them have a technological barrier.

1. Resolve the concurrent communities/profiles issues detailed above. (I have been assured by a reliable industry insider that they are working on a solution, though no timeline is being shared for a release date.)
2. Expand the professional entries in profile information. One of LinkedIn's remaining advantages is description/recommendation information for each professional experience entry. Facebook currently only offers company/title/tenure. By expanding the profile *AND* making it searchable (of course in accordance with user privacy settings), Facebook would match one of LinkedIn's only advantages in professional vs. social networking.
3. Search by degree. Most people won't want you to search through their friends, but might not mind making a referral to a colleague. Give users the options to make their professional network, personal network, or both searchable. No privacy issues, but LinkedIn would lose it's last advantage the 6-degrees concept.

Once these changes are in place, not only would LinkedIn become obsolete (or perhaps a small cog in the OpenID/Social Graphing spectrum), moreover the number of concurrent circles is limitless... I can publish separate information on FB to my friends, my clients, my candidates, my co-workers, my....