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Published:February 11th, 2010 17:23 EST

MySpace On The Ropes, CEO Quits!

By Robert Paul Reyes

MySpace CEO, Owen Van Natta, quit after less than ten months on the job. He`s bailing out on a sinking ship, every month thousands desert MySpace.

The official reasons for Van Natta`s resigning are vague, but even non-techies can read the writing on the wall. According to ComScore Facebook draws twice the global traffic of MySpace. The beleaguered social-networking site has lost more than a quarter of its video viewers.

It doesn`t seem that long ago that MySpace was the premier social networking site, but now`s it`s a refuge for skanks and predators. MySpace is a ghettoized version of Facebook.

It`s been weeks since I updated my MySpace page, but I update my Facebook account on a regular basis. I`m embarrassed to even let people know that I have a MySpace account.

For every Google that has remained dominant for a long time, there are tons of sites like MySpace that shine brightly for a season, and then flame out quickly.

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