"Twitter has built an audience, but in order to achieve the scale and revenue that Google and Facebook are seeing it needs to show that marketing dollars spent on the site can perform well for mom and pops, not just big companies, " said Jonathan Strauss, chief executive of Snowball Factory Inc.

WSJ: To Grow Big, Twitter Seeks Small Ads

Indeed, based on this state report regarding the host site that did not perform as well as peer schools and will ultimately be closed by New York City, it appears that a host of issues having nothing to do with School of One may be to blame for the first-year outcomes.

FORBES: The Counterproductive Attack on NYC's School of One

Difficult conditions have led the utility company to evacuate around 730 of the 800 workers from the site, making clean up and safety operations even harder to perform.

FORBES: Connect

As the Entrepreneurs Challenge progresses in coming weeks, the YellTimbre group plans to perform some consumer research to see what other music lovers are looking for in a social music site, including talking to people waiting in line for concerts around the city, Stock said.

FORBES: Group of Freshmen Aim To Create Artist-Centric Social Media Site