(Source) Google knows a good thing when it’s sitting in front of its face. And that good thing is the openness of Facebook.

Google is trying to enter the social media arena. I’ve got to say that it won’t be nearly as difficult for Google to compete with Facebook and MySpace as it would be for Facebook or MySpace to compete with Google in search.

Further, with Google’s recently revealed plans to be more open than Facebook, the thought is that Google will be leveraging most if not all of its widely used applications for this initiative, including Google Maps and Earth.

This would be an interesting set up. It would make collaboration over long distances truly a powerful thing. The big issue would be anti-trust, I think. Would Google stoop to unfair practices to nudge MySpace and/or Facebook out of the market or could it compete evenly and fairly in this new arena? If Google could play fair, it would be a good thing for consumers. More competition means more choices and better service over all.

I hope the rumors are true and that Google does enter the social media market. That would give serious social marketers a new avenue for promoting their businesses. Are you in?