I will first describe how to extend the theory of balanced networks to account for synaptic plasticity. This theory can be used to show when a plastic network will maintain balance, and when it will be driven into an unbalanced state. I will next discuss how this approach provides evidence for a novel form of rapid compensatory inhibitory plasticity using experimental evidence obtained using optogenetic activation of excitatory neurons in primate visual cortex (area V1). The theory explains how such activation induces a population-wide dynamic reduction in the strength of neuronal interactions over the timescale of minutes during the awake state, but not during rest. I will shift gears in the final part of the talk, and discuss how community detection algorithms can help uncover the large scale organization of neuronal networks from connectome data, using the Drosophila hemibrain dataset as an example.