MySpace was overtaken by Facebook for the first time last month and without some serious innovation, Rupert Murdoch's big buy may end up joining Friendster in the ranks of the also-rans, Dawn Chmielewski and David Sarno write in the Los Angeles Times. The world of social networking moves at an unforgiving pace, the two note, and MySpace has been playing catch-up instead of leading, as its own initiatives tanked.
Missteps included an overreliance on a portal strategy—attempting to build an audience around entertainment content—while Facebook managed to hang on to notoriously fickle social networking users by adapting and absorbing aspects of upstart rivals like Twitter.
MySpace still has a hefty 70 million users, but the site is laying off almost a third of its staff.
(Read more MySpace stories.)