How do you create a social network like FaceBook?

[Percy]

FaceBook got boring, but I had no luck finding one like it with popularity.
So I decided to make my own, and invite my friends to join so we can chat and we have a hangout site.
Is there anyway I can make one, because I think it'll be fun to make your own SN.

-Thanks!

[You may be right]

I don't think anyone can compete with facebook, but you still might be able to come up with something that will make you some money

Here is a script you can try, I haven't tried it, but I'm thinking about it http://phpdolphin.com/ looks pretty good.