Once the undisputed king of social media (at least in the U.S.), MySpace last week declared what amounts to a post-modern armistice, announcing that they will integrate status updates with Facebook (and Twitter).
MySpace used to be Janet, and now it’s LaToya – at best.
While the erosion of the MySpace user base has been ongoing for years, the fact that it was purchased for $580 million just five years ago says all you need to know about the vagaries of online leadership. Coincidental timing too, as Yahoo! gave up their search engine duties in U.S. and Canada to Microsoft’s Bing last week. Approximately 10 years after having 67% of the search market, Yahoo! is now out of the business entirely. Ouch.
But back to MySpace. Where did it all go so wrong? What can we learn from its death spiral?
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A good jaunt down memory lane. How many of these lessons can be applied to our current organizations?
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