Lessons from Myspace: a story about collapse

Don't be on the wrong side of an online 'fashion trend'

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By now you’ve all heard that Myspace sold for $35 million. And of course you remember that about six years ago it was bought for $580 million. That’s some ugly math. Ugly enough to distract from any real lesson beyond, "Wow, someone lost a pile of cash."

It’s easy enough, today, to look at Myspace and say that its downfall was inevitable and there was no way it could compete with the superior Facebook. But, Mark Zuckerberg’s skill at developing a social network company notwithstanding, hindsight is 20/20.

Before we get too happy dancing on the bones of the fallen, let’s remember that according to Compete’s estimates, Myspace still has almost four times the traffic as the top real estate websites. So if you measure success based on impressions or followers or friends or eyeballs, then take that for what it’s worth.

Myspace collapsed. Here are some thoughts tuned for the real estate industry.

Is a custom design really that important?

One of the most obvious differences between Myspace and Facebook is visual. The visual clutter of Myspace was intense. Facebook, however, has a relatively clean and clear design.