cross-posted from: https://lemmy.world/post/12701892

Edit:

• fixed summary errror on 7/8

A lot of people think that Facebook ended MySpace but in reality, this isn’t the case. In this video we’ll go back to the 2000’s to find out what really ended MySpace.

Short Summary

1. The video discusses the rise and fall of MySpace, one of the first popular social networking sites.
2. MySpace was initially successful and valued at $12 billion, surpassing Google as the most visited website on the internet.
3. However, it was eventually overtaken by Facebook due to MySpace’s own missteps.
4. The video also mentions the early days of social media with sites like Friendster and the quick development of MySpace using ColdFusion.
5. MySpace was acquired by Rupert Murdoch’s News Corporation for $580 million in 2005.
6. Despite its initial success, MySpace began to decline after being acquired, facing challenges such as corporate bureaucracy and competition from Facebook.
7. By 2007, Facebook was gaining momentum, and MySpace’s user base and value began to decline.
8. MySpace struggled with meeting financial objectives, prioritizing monetization over product quality and user experience.
9. News Corp sold MySpace in 2011, and subsequent redesigns failed to revive the platform.
10. MySpace shifted focus to music but struggled to differentiate itself from other websites, while Facebook expanded its services and user base despite facing criticism.