I was talking to CP about that soon after we all got on Google+. It seems to me all new social networks go through that pattern. Initial flurry, followed by a pronounced lull. My theory was that during that initial flurry, when a lot is happening and you're on the site all the time, most people minimize their notification footprint. If you're reloading the page every 5 minutes, you don't need an email, a text, and a twitter alert to tell you that there's new content. But as soon as things slow down a little, people aren't on the site as much, and now they've turned their notifications off, so they forget to check back in.
Only time will tell if this is a permanent drop, or just the calm before the storm like all of the successful sites have had.
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'He who receives an idea from me, receives instruction himself without lessening mine; as he who lights his taper at mine, receives light without darkening me.'
-TJ
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