MySpace collapses some more

It wasn't that long ago that MySpace defined social media. You could customize your page, make friends who weren't really your friends. Yes kids, back in ought six, we really thought we were cutting edge. But now MySpace just keeps washing away like a sand castle. Latest news is that co-president Jason Hirschhorn has quit after only 5 months on the job, this after previous CEO Owen Van Natta was fired in February. The company is expected to shed another 10-20% of it's staff next month when retention bonuses offered by Van Natta last year are finally paid out. So those aren't layoffs, they're ship jumpers.

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John Moe is the host of Marketplace Tech Report, where he provides an insightful overview of the latest tech news.

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