MySpace has 70 million active global users but you wouldn’t know it to look a the site. In the past few years, they’ve gone from being a hub of personalized social activity, to a billboard for big entertainment brands to. . . the laughing stock of the internet world.

But MySpace’s new owners could be laughing all the way to the bank and sooner than you think.

Talking to AdAge, Al Dejewski, the new senior VP-global marketing says that MySpace started out on a clear path but lost its way as it grew. Now, the new owners are ready to clear away the brush and strike out all over again – with music as their one and only map.

In true Internet fashion, Facebook has announced its latest f8 conference will happen in San Francisco September 22.

Facebook has used their infrequent f8 conferences to make big announcements with their last one being held in April 2010. As TechCrunch points out

The last f8, which took place in April 2010, was absolutely huge: it featured the launch of Facebook’s Open Graph API and the now-ubiquitous Like button, as well as several of Facebook’s social widgets.

It also saw the launch of Instant Personalization — a bold feature that allowed select third party sites to access some of your Facebook data as soon as you landed on them (the opt-out nature of the feature drew plenty of criticism).

We expect to see similarly major announcements at this event.

No matter how you slice it one trillion is a big number. It’s one of those milestone numbers (unless you are talking about the US debt which left little ol’ one trillion in the dust long ago) that makes people stand up and notice.

Google’s DoubleClick Ad Planner shows that Facebook hit this number in June of this year. Since the chart is in rank order of unique visitors so Facebook sits atop that category comfortably as well.