Posted February 12, 2009 9:57 am by with 4 comments

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It appears that even the co-founder of MySpace is placing his money on Facebook to win the social networking wars–if only for the next couple of years.

Speaking to the Sydney Morning Herald, Brett Brewer co-founder of MySpace who sold the social site to News Corp, said:

“There’s a fundamental shift going on,” Mr Brewer said. “Both sites are … different. We built MySpace for people to find and connect with people they don’t know. Facebook is … built around connecting with people you already know.

“Clearly, the world eagerly embraced MySpace, but as the average person has adopted social networks, where they come to first is making connections with the people they already know. Facebook has done an excellent job of capitalising on that.”

While recent stats seem to back-up the idea that Facebook is enjoying worldwide domination–although MySpace still dominates the US market–it’s not all good news for the site that started off life as a way for students to connect. A transcript of a court hearing suggests that Facebook is not worth the $15 billion previously estimated. Instead, the social network is (barely) worth $3.7 billion.

Back to Brewer. He believes that both MySpace and Facebook will be obsolete within 2 years, with a challenge likely to come from a social network that does a better job of integrating mobile phone technology.

Not sure what to think about that. While I agree that mobile phones are looking set to finally take off as a supplement to desktop computing, I’m not convinced that Facebook will be out maneuvered within 2 years. How many times have we heard the same statements made about Google?

  • I think LinkedIn is the site built around connecting people you already know.

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  • He could be on to something. Mobile is primed to create – and is creating – a whole new crop of brands and services. Traditional Web companies who can’t adapt or fit into this new world are at risk of losing to ones who can. Facebook, fortunately for them, adapts very well in a mobile environment, but they’re not impenetrable.

  • Two years is a long time in the world of the web, but facebook being overtaken in that time frame seems like a slightly extravagant statement. The phenomenal growth of twitter as a mobile app could point out the road for possible competitors, or who knows, maybe twitter will evolve into a serious contender, perhaps?

  • I’ve tried to use MySpace but I just can’t do it. I think it’s my ‘inner designer’ that keeps killing it for me.

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