Oh my, MySpace...
MySpace will start a record label, and soon take over the entire social lives of its 27 million users.
MySpace is absoutely the way social networking should be done. Like Flickr, it focuses around a shared interest first, with social networking and interactive features built around the core. In MySpace's case it's music. In Flickr's, it's photos. (And, if you want to extend the argument to its logical, pre-Internet conclusion, in Bloomberg's case, it's finances. Anybody who uses Bloomberg regularly ends up doing everything from their Bloomberg -- e-mail, news, info, job hunting.... everything).
I've been over to the new Bloomberg tower on 59th and Lex a few times for TV interviews. And just like it's not that far-fetched (now) to believe that what was basically a glorified updated spreadsheet of bond prices could spawn a magazine-, TV-, and media-empire, so too is it not that ridiculous to believe that MySpace, and the similar businesses that will focus on other lifestyle niches, will thrive as it conquers new facets of the industry it now dominates.
