Twitter is social networking. You can network (interact) with people who share similar interests as you, and meet tons of new people who also share similar interests.
For many, it has replaced instant messaging (think yahoo and AIM) and even online chat (think IRC). For others, it has replaced Facebook. And for still others, it has replaced all of them.
Personally, I've found an entire community of people who share many of my interests who live right in the same city, and we now get together once or twice a month for "tweetups." It has doubled my social activities!
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