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Rupert Murdoch Admits To Killing MySpace

On Friday, News Corporation chairman and chief executive Rupert Murdoch admitted on Twitter that he and his company killed MySpace. In fact, his very words were that "we screwed up in every possible way." He added that News Corp walked away from the destruction having learned "lots of valuable expensive lessons."

Expensive is a pretty accurate description. News Corp purchased MySpace back in 2005 for $580 million as it was growing in popularity -- that time period before the Internet halted and gave birth to Facebook, the current center of the social world. Having lost a good chunk of business to Zuckerberg and Co., Murdoch sold MySpace for $35 million last year, taking a 94-percent loss.

Quite an expensive lesson.

Murdoch reportedly joined Twitter at the start of the year, but this is the first time he's tweeted about MySpace and the difficult six years before its sale. His current topics outside the MySpace blunder have centered on the show in Las Vegas.

"Big three, Apple, Google and Amazon, and maybe Facebook dominant now and growing," he said in one tweet, referring to the show. "Plenty of others good, but not in same league." Eventually he reports that it seemed like more innovation than ever, "some great, all disruptive."

  • AznCracker
    First Degree Murder
    Reply
  • COLGeek
    I am pretty sure much of the demise of MySpace belongs to the site and the tons of garbage that ended up on it. When something "better" came along the alternative took over (FB). I am not a fan of either, but the better, stronger, more evolved system prevailed.
    Reply
  • Rupert Murdock losing money makes a very happy nerd.
    Reply
  • Thanks for getting rid of the free mp3 download option, Rupert.
    Reply
  • del35
    Rupert Murdoch is a nefarious war mongering con-artist running a large part of the US media. His purchase of My Space was enough to cause a massive exodous. When he purchased photobucket.com a massive exodous also ensued.
    Reply
  • del35
    Hopefully soon the fate of Myspace will also befall on Apple and Facebook. Both of those companies also thrive on the ignorance of those they infest.
    Reply
  • Shin-san
    I'm mixed about this. Some people really hated MySpace
    Reply
  • I don' know SOPA in details, but for me regarding piracy, if the basic principles are :
    1) against piracy centers and not end users (always centers in piracy due to the need for catalogs and search amongst other things, "peer to peer" also a lot of hypocrisy in the terms and everybody knows it)
    2) No monitoring at all of end users flow, collect of their IPs a formal complaint from somebody about a user acting as a center
    3) All procedures are legal and public
    Then it clearly is the right way to do it, not to forget that if piracy doesn't create any revenues for authors and creators, it does create some (and not a little) for some people :
    http://owni.fr/2011/12/14/secret-megaupload-streaming-kim-schmitz-david-robb/
    http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10626044

    Note : above more developed below (but in French) :
    http://iiscn.wordpress.com/2011/05/15/piratage-hadopi-etc/
    And "zero piracy" doesn't matter in anyway (not more than school kids exchanging files), problem is when it becomes the default and easiest access method for works and publications.
    But on this, in order to have a real "user experience" added value in buying instead of pirating, and this in a non quasi monopolistic environment (or with just 2 or three "monsters"), clearly something like below would be required :
    http://iiscn.wordpress.com/2011/05/15/concepts-economie-numerique-draft/
    Reply
  • del35
    " Rupert Murdock losing money makes a very happy nerd."

    When a parasite like Rupert Murdoc with his tenticles so deep in the minds
    of ordinary people loses money, it is likely he will then have the herd pushed into
    another cash generating proxy war that can provide him with ample financial opportunities to extort more wealth from his hosts. Such a war is already in the horizon.
    Reply
  • del35 - where did people go when they left photobucket ?

    I hated the junk, clutter and garbage that was on the main screen. That and there were too many way to post updates. Massive design failure.
    Reply