This article in Fast Company examines the changes occurring at MySpace, and this is my response.
It can be duly noted I obviously favor Facebook over MySpace, but those that we favor do not necessarily have the best chance at winning, kinda like when Gore ran against Bush. Not saying Facebook is going to run off and win the Nobel Peace Prize, because helping horny college students hookup is far from the guidelines to win a Nobel Peace
Facebook has obviously stolen the spotlight recently making it incredibly more difficult for MySpace to compete, even if it had some great features — which it doesn’t. But — what it does have is a revenue model, one the likes of which, Zuckerberg would kill to have. Thats right, MySpace is profitable, whereas Facebook seems pathetic to even compare the figures, $150,000,000 <Facebook> to $1,000,000,000+ <MySpace>.
With that kind of revenue one would think MySpace would simply dominate, and yes while they have over 250,000,000 users Facebook is the largest, and most active social network in the world. We all know why this is obviously, the perfect concution of everything. The Developers Platform is a marvel, simply amazing really. And, while it has been watered down with utter garbage it is still a very strong asset. Now, the Open Social platform on the other hand is simply a wreck. I work with it, but man does it need some work. I cant help but feel it was hacked together by a small team of people in some dark window-less office somewhere in Mountain View.
There are a few very possible reasons users seemed to adopt Facebook over MySpace, but the major one is a two syllable word — STREAMLINE. It is 100x easier to navigate, search, and in general use. It seems to me that MySpace is busy making money, Facebook is busy developing the user experience. SMART MOVE. It seems to be their real strength in wooing the myspace userbase to abandon the archaic platform of MySpace.
Ive heard rumours of a new MySpace redesign, but if it anything like their recent attempts, it will fall, and fall very hard.
Another thing Myspace has going for it is the loyal music base. Nothing has really come along that can challenge that. Imeem is doing its damndest, but may need a little more time, and funding. Facebook currently has didily squat for musicians besides ilike, which is a cool utility, but it really isn’t a competitor in the market for the needs of musicians. When Facebook can figure out how to taylor to musicians it will be much better off. That is just my 2 cents.
So take this all into account, a streamlined user experience, a great tool for musicians. and a better platform (more integratable, less hacked), and the better revenue model, that will decide our victor.
I am the founder of 
