This document summarizes a panel discussion on the state and future of learning management systems (LMS). The panel discussed topics such as high adoption rates of LMS in higher education, the role of social media in the future of LMS, and how technologies like mobile and analytics could impact LMS. One question addressed what a "next generation" LMS might look like and what problems it could solve. Another question discussed why LMS reporting and analytics are currently immature and how they could be improved. The document provides data on LMS usage trends in the California State University system.