NoNewTaleToTell: But semi-related, why did Myspace fail anyway? and why is the Myspace brand so damaged that it couldn't be revived?
Money and a lack of understanding of what users liked about it, basically. Companies/bands started using it as a marketing tool, and the site started to change to accommodate that. Features broke outright, everyone had to deal with tons and tons of spam, and when they finally tried to relaunch the site, it was even more broken and centered around whoring products. Plus Facebook was getting popular, so people were migrating there and weren't willing to go back.
In its heyday, though, it was great for meeting new people. I'd add a bazillion people, then strike up a hundred conversations at once and get all kinds of different perspectives on everything imaginable. No other social media platform has made that kind of thing as feasible as Myspace did back in the day. I don't think any of the people running the company ever understood that, though.