MySpace, then and nowFinancial Times - Reportage: "Since then, MySpace has shed 40 per cent of its staff, closed many of its international offices and publicly given up trying to match Facebook in the race to become the world's biggest social network. (MySpace has more than 100 million regular users, Facebook more than 300 million.) A move by MySpace and other News Corp digital businesses into the biggest new office development in Los Angeles was scrapped - after the $350m, 12-year lease had been signed - leaving the company paying more than $1m a month for an empty building. The number of people using the site has also dropped precipitously this year: MySpace's share of the social networking market has tumbled from 66 per cent a year ago to 30 per cent, according to the online research company Hitwise." - I would have called this article "How to build and empire, sell it to an old school media baron, make a ton of money, watch him run it in the ground, and get out." Maybe that's too long?
It's funny the article says MySpace was at the forefront of Web 2.0. I find that laughable. It looked to me like a complete nightmare, hey, ever heard of the blink tag? Yeah, it was that bad. While Facebook isn't the most aesthetically pleasing site ever created it makes MySpace look like an ugly step child.
Remember boys and girls, most of the web has the attention span of an A.D.D. child.
So, who's going to be the next darling and take down Facebook? If the woes of MySpace are any indicator we have three to five years before we'll find out.
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