I am not an expert analyst consultant new media web 2.0 guru monkey VC master, but I can see the obvious. Myspace started to bomb out because it was completely useless as a social networking tool. My band, The Motion Sick, has about 12,000 “friends” and exactly 0 ways to communicate with any of those people. We could have 12 friends and we’d be in the exact same position. Is that not obviously ridiculous?
9. Repeat this with lots of other existing sites, features, and ideas, but the foundation is really e-mail. The rest is icing.