How MySpace Lost Its Crown

"MySpace was overtaken by Facebook for the first time last month and without some serious innovation, Rupert Murdoch's big buy may end up joining Friendster in the ranks of the also-rans, Dawn Chmielewski and David Sarno write in the Los Angeles Times. The world of social networking moves at an unforgiving pace, the two note, and MySpace has been playing catch-up instead of leading, as its own initiatives tanked."