As of this month, at the ripe old age of five, it’s ancient in Web 2.0 terms. But for being a senior citizen of the web, Facebook sure has managed to stay fresh and relevant. What started as a social experiment in Mark Zuckerberg’s Harvard dorm room has grown to capture over 150 million users.

icanhascheezburger.com

Here are some ways Facebook has managed to grow and adapt so far…

-  its supernatural ability to help you reconnect with old high school buddies, network  professionally (ahem), plan killer bashes, and showcase your wit via status message

- the ever-growing collection of third-party Facebook applications, integration with Twitter, built-in Instant Messaging, blog importation capability, and more

These all allow users to express themselves in a rather addictive way.

Here at the IMA, we utilize Social Networking to reach a more diverse and (presumably) younger audience.  And, like any institution, we are always looking for ways to stay fresh and relevant.

However, TIME ’s tech writer, Lev Grossman makes a humorous argument as to why Facebook is for ‘Old Fogies.’  After all, Facebook’s fastest-growing demographic are those 30+. Could this be the kiss-of-death?

Illustration by John Cuneo for TIME

Others are predicting Facebook’s demise. Blogger Devin Johnston argues that unless Facebook changes drastically, it will fizzle out in just three years.

Sites like Facebook are doomed unless they radically alter their business and development models to reflect the needs, interests, and capabilities of internet users. There is room for Facebook to move away from providing service and toward assembling the services of others in a single location. Frankly, I think that this is the only way that Facebook will survive the coming revolution in social computing.

That’s a lot to ask of a five year old.

Do YOU think Facebook’s days are numbered? Will it continue to adapt, or be wiped out by something better-faster-stronger?

I must admit that I was a very reluctant convert to this world. I am a member of the usual 20-something demographic, but just felt my life was “too busy” for a virtual version. But alas, I have discovered that I really like Facebook, and I have created my own Flickr account, too, though it is admittedly a bit neglected. It has gone so far that I have become a total Facebook snob, refusing to admit there is any usefulness left for MySpace. Honestly, who doesn’t agree that MySpace is over? Now we need to be concerned about what the next big thing will be. (If you happen to know, give me a hint in your comment.)

Museums as a whole are struggling to keep up, usually moving just one sad step behind trends. There are a few exceptions. Among the best are the Brooklyn Museum (that’s in New York) and the Walker Art Center in Minneapolis. Both have managed to maintain online activities that support real communities mostly due to brilliant content and savvy audience development. We ogle their sites and the amazing dialogue their work creates and daydream about creating the same in our community.

This admiration and envy is definitely the reason why IMA has given so much time and attention to the revision of our blog, creating an IMA Facebook page and integrating social networking into upcoming IMA exhibition websites. (Breaking the Mode will be the first, launching in February 2008.) You will see us making genuine efforts to use these tools in ways that are fun and relevant, and we hope you will join us as we do it. In the meantime, I hope you will visit IMA’s Facebook page and if you think it is lame (or awesome) say so, then visit mine, which naturally, ROCKS!