I love Livejournal and have been on here since 2001. I met my fiancée on this site. I use my journal as a place to express private thoughts, to write stories, interact with friends, meet new people and discuss the world.
Delivery – Livejournal has too many features that are 80% completed. Examples are Scrapbook, To Do Lists, Portals, Schools, Singles, etc. I believe that features that are beta should be marked as such. Many features need to be reworked or redocumented.
Monetisation – I believe that a site with 2 million active users ought to be profitable without being dominated by advertisements. More work could be done with sponsorship (films, news media, books, etc) which might generate content, although this might need to be opt-in.
Openness – Livejournal should seek to be open with its user base who are more than merely customers. We have generated the content and virally marketed the series. This means announcing what is planned ahead of any changes. Likewise users should be kept updated on things that have been promised – a la carte user pics for example.
Growth – The future of Livejournal depends on obtaining new users. Attempts should be made to reach out to new members and to ensure that Livejournal has a greater public profile. I would like efforts to be made to reach out to famous people in order to encourage them to join.
Communication – Livejournal needs to develop better ways of listening to its user base. Minutes and the agenda of advisory board meetings should be published. Any changes to terms of service or account levels should be announced in advance, preferably with a period of consultation.
Archiving – currently LJ Archive is great for backing up Livejournals. But it is not an official tool and it should be official supported.