MySpace to Reinvent Web 2.0?
News Corporation’s COO Peter Chernin told investors at the Merrill Lynch Media & Entertainment Conference that MySpace could move to develop its own applications to rival or dominate other Web 2.0 services:
“If you look at virtually any Web 2.0 application, whether its YouTube, whether it’s Flickr, whether it’s Photobucket or any of the next-generation Web applications, almost all of them are really driven off the back of MySpace … There’s no reason why we can’t build a parallel business … Given that most of their traffic comes from us, if we build adequate, if not superior, competitors, I think we ought to be able to match them, if not exceed themâ€
It may be naive, but I can see two issues with this strategy.

OK. Because I’m researching this stuff, I started a