Why MySpace is Monetizing So Quickly: They're Dying Fast

At least that’s what Michael Wolff, author of the Rupert Murdoch biography, “The Man Who Owns The News,” suggests. In a conversation with Jon Fine of BusinessWeek, Michael Wolff expresses his disdain for MySpace and suggests that News Corp executives are shaking in their boots. The company is according to Wolff, “looking at is the distinct possibility that it can go down to nothing.”

Just like Friendster, AOL, and many other networks, Wolff believes that MySpace is a huge risk for News Corp since everybody is going to MySpace. It’s a relatively dramatic conversation and one that sounds like it was had over a few drinks. It’s also a discussion shared among those individuals that have the benefit of viewing the whole situation from an ivory tower.