June 15, 2009

The end for social networking as we know it

As the founders of social networking site MySpace are moved aside there are feelings that there will be a wave of job cuts following a decline in members, social networking initially boomed with start-ups quickly growing from nothing to millions of users.

However, this market has slowed down significantly and still the money making potential of these sites has not materialised in any big way, in fact any attempt to bring in ways for the sites to make any cash have often been met with hostility from the members.

As the trouble builds within MySpace, other social networking sites such as Twitter and FaceBook will be watching closely and taking notes on how inevitable changes affect MySpace and more importantly to the site, its members.

Source [Daily Finance]