Evaluating only MySpace’s profile at its peak — without knowing the outcome — the model ranked Founder chaos as the #1 likely cause. Documented cause: Competition.
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Documented cause
MySpace was acquired by News Corp for $580M in 2005. Under corporate ownership the product stagnated while Facebook grew. MySpace failed to enforce quality standards — spam, malware, and cluttered profiles drove users away. Facebook overtook MySpace in 2008. News Corp sold it for $35M in 2011.
Lesson
“Social networks are won on product quality and safety, not just audience size. A network that tolerates spam and malware to maximize ad revenue will lose its audience to one that does not.”
FAQ
Why did MySpace fail?
MySpace failed because after being acquired by News Corp for $580M in 2005, product development stagnated while Facebook grew. Spam, malware, and cluttered profiles drove users away. Facebook overtook MySpace in 2008 and News Corp sold it for $35M in 2011.