Sean Parker explains why Myspace lost to Facebook
As Myspace was sold for $30 million, many people wonder the reason this service, which was bought in 2006 by Newscorp for $580 million failed in the end.
In an interview at the NExTWORK Conference, former Facebook president and Napster co-founder Sean Parker explained how Myspace is now totally replaced by Facebook.
When he was asked about Myspace’s mistakes that leads to its current failure, he replied that Myspace did not execute product development successfully. The product did not evolve fast enough and its bad design has persisted for many years. With enormous network, Myspace would have been Facebook if they copied Facebook rapidly.
Facebook first entered the market through college because college kids were generally not Myspace and Friendsters users. It was not expected that this niche market will then gradually become the one social network to rule them all.
However, Parker do not think Facebook will be the end of online social networking history unless it becomes some sort of artificial super intelligence to takes over the world in future.
While Myspace sold at $30 million, Facebook has a valuation of $70 billion-$100billion. Lets see how long Facebook can stay in our online world. Maybe like what Parker said, it will be become a victim of artificial super intelligence.
Here is a 44 minutes video of the interview: