A couple of months ago I created a MySpace, hoping to understand why it is such a huge succes. I still don't really get it, but BusinessWeek tries to explain it.
Whichever company wins, it's clear that social networking is becoming a cultural phenomenon. It's evolving into a new form of media, part entertainment and part communications. Carley watches the drama of other peoples' lives on the Net, rather than on TV. At the same time, he and his friends communicate with each other in new ways, posting blog items on their MySpace pages and instant messaging when they spot a friend online. Carley recently found out that a former girlfriend was in a new relationship and moving to California by reading her MySpace site.