BOSTON (CBS) – Once upon a time, not so very long ago, the social networking site MySpace was king.

In 2005 Rupert Murdoch, one of the world’s smartest businessmen, paid $580 million for it. If you see Rupert on the street today and wonder why he isn’t wearing a shirt, it’s because he lost it on MySpace, which is reportedly on the verge of being sold for something south of $30 million.

What happened to MySpace, which once had one of the world’s largest potential markets cornered? Competition happened.

According to one analysis by Fortune Magazine, “MySpace…wasn’t sure what would make a social network click. So it let its members figure it out, [inviting] them to design their own pages with widgets, songs, videos, and whatever design they pleased. The result was a wasteland of cluttered and annoying pages.”

Along came Facebook with a cleaner, simpler design, and that was it for MySpace, which now joins eight-track tapes and Betamax cassettes in the junkyard of modern-day technology.

But I hope they save some room in there for Facebook, which will surely be joining them sooner or later.

Why? Because social technology can never be an adequate substitute for real social interaction. It’s not that it isn’t fun to keep up with distant acquaintances or share gossip about your favorite band online, it IS fun. But it’s a transient pleasure, a gimmick that can’t ever fully substitute for actual human conversation or real human relationships.

Listen: Keller @ Large: What Happened To Myspace?

Social media is a great marketing tool, and checking your Twitter feed can be a great way to waste time, if wasting time is your goal. But it’s cotton candy technology, junk food for the soul, as the short-shelf life of each new revolutionary innovation demonstrates.

If you disagree, by all means, let me know. You can reach me on my MySpace page – not.

Comments (11)
  1. tsal says:

    50% of the world population is under 30
    96% of millennials have joined social networks
    FB tops Google weekly in Web traffic in the U.S.
    FB added over 200 million users in less than one year
    If FB were a country it would be the third largest

    and on and on. Is it a fad. I believe it’s now and it’s the future. Millennials are attached to their devices. But it isn’t only the younger generation. The fastest growing FB population is women between the age of 55-65.

    We have not begun to see where technology can go. Europe is ahead of the U.S. in many new technologies. Some will be tested in a few states as soon as July.

  2. sean says:

    as someone who had FB when it was open to only college kids, I can attest to this because I recently just got tired of it and deleted it

  3. emom says:

    FB is a great tool to keep in touch with those you don’t ordinarily see on a daily basis. If you don’t chat with them everyday or see them you loose touch for a very long time. I am not talking about people at work or your next door neighbors But people you once only communicated with thru letters, (snail mail), phone calls, ( yeah missed that call again) or that occasional holiday or birthday card. We have busier lives today than 20 years ago. The younger generation have tons of what they call friends, where as the older folks have a small circle of friends. Staying in touch with some that moved away is harder. I find FB has not only allowed to stay in touch with friends and relatives, but with busy schedules it allows us to post a message and photos faster b but they in turn can do the same and we get to see and read what they have to say faster. I talk more to my relatives now than I did before FB. I have them on the west coast and in the north of Canada. We may not be on line at the same time due to the time zones, BUT we can leave messages to when one is on line and then have a conversation. However teens seem to be on FB for pure chatting with their friends from school…. They just left them and now they are on line to chat with them. Just like the cell phone texting them they are Im’ing them on FB.. Hey but it’s a technology highway out there. Cells are great for texting to see where someone is when you are in a crowed or shopping to meet up, or letting someone know you will be delayed. FB is far better than email and certainly better than writing a letter that can take a few days or longer to get somewhere and then you will have to wait to get a response, That is if the other person has the time to WRITE a letter ….. No FACEBOOK is the new method of communication with the outside world and is a far quicker way to send and receive such messages and photos. After all we now have digital cameras no more waiting to take the photo finish the roll , then mail it out to get developed wait for it to come back, and find time to go and pick it up. Now its instant and there. Just upload and done. What will be next , Holograms, molecular transportation, Who knows what the future holds I bet many never thought the pony express would be so fast or work, But here we are now with the internet the online Pony Express. Its fast and the future…

  4. barry says:

    as bill bellichik said before me. i dont do myface.

  5. Stephen Stein says:

    Don’t look now, Facebook! Here comes Google-plus!

  6. mikey says:

    Text of this article should perhaps be changed to read: In 2005 Rupert Murdock, “formerly” one of the world’s smartest businessman….

    1. mikey says:

      “businessmen.” Another day another glitch. Oh well.

  7. Al says:

    Like Vancouver, Jon, you’re wrong at the basic level of the premise.

  8. Joshua Swan says:

    I’d have to say Facebook is probably Eminem and Myspace is Vanilla Ice.

  9. Brianna says:

    I cant believe they would go and change literally everything on there! First it was just adding features and stuff or new things to make your pics better or generators to put words or letters on your profile glittery or bright up or 3D. Then it was when you change your profile background they had new choices for how your profile category boxes were and the edit profile,my profile,friends,games etc. Then they change the way it looks on the Myspace homepage. It was all cool and all my friends would talk about it but it was all baby steps or more like little things, which made it better! It was then going to far where then they changed their theme so a lot of people’s peofile background was gray with all black lettering. Boring!! So thats when everything changed it was all fine up until the new features and change of homepage look and login… Then everyone started making pages about the new myspace sucks, also things that would come up on my stream with 3 options if i was thinking about leaving or not and gone

  10. Brianna says:

    And everyone started barely posting not going on then its up til today a ghost town that everyone wants it to be like before like when i joined in 2009 i thought nyspace was fun. so facebookused to be talked about like this as when i was a 5th grader in ’08-2009, Facebook is boring my mom or Dad has one and i think its more for adults because thats the only one thats on there. Some of my friends when in ’09 in 6th grade made one they and other friends and more made one because they found it interesting and spread the word so in january 2o10 i made one and found people i knew and would go on there and to this day thats the same account i have now for almost 2 yrs. But ill always miss myspace nd go on hoping they decide to go like they were before 2010!!!

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