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Hardly worth belaboring the point, but no way. If anything MySpace was 'Too Big To Fail™' and Facebook exploited their shortcomings rather expertly. I don't use either site much, frankly.. but to suggest that Facebook somehow fell into owning the market seems patently false.

MySpace failed because Facebook succeeded.

I disagree. Both Facebook and MySpace tried to solve the problem of connecting people digitally, but that's where their likeness ends. They tried to solve that problem in fundamentally different ways.

Both were(are) homepages that list your likes/dislikes/memberships and have a stream of comments. It was friendster et al that tried to do the real hard CS graph theory stuff. Facebook /still/ doesn't do those things - though they talk about "the graph" constantly.

Just try searching for everyone within X miles in your network.

I had a MySpace account before I had a Facebook account. When I first joined MySpace a lot of my friends were on the site but soon after a lot of them started to leave and move over to Facebook. MySpace allowed users too much freedom to design and customize their pages which resulted in a horrible user experience for most users, while Facebook offered users a more clean design and professional experience.