At least that’s Scott Smigler’s perspective, and he backs it up. Here’s the start:
I hate to break it to you Rupert… but MySpace is dead. Well, at least it is in the process of dieing. Rupert, I know you’ll tell me that MySpace is still one of the most popular websites on the Internet. You will tell me that it has tens of millions of loyal users (and growing). And you’ll also tell me that the smartest fund managers and financial gurus in the world praise you for stealing a multi-billion dollar Internet property for less than $600 million. But if you listen closely you’ll hear the fat lady warming up her vocal chords, and she’s about to give a great performance.
As they say, read the whole thing.