We went with a lot of products that were shallow and not the best products in the world".
The products division had introduced many features (communication tools such as instant messaging, a classifieds program, a video player, a music player, a virtual karaoke machine, a self-serve advertising platform, profile-editing tools, security systems, privacy filters, and Myspace book lists, among others).
By 2004, it was transitioned from a file storage service to a social networking site.
A friend, who also worked in the data storage business, reminded Chris De Wolfe that he had earlier bought the domain My
However, the features were often buggy and slow as there was insufficient testing, measuring, and iterating.
Danah Boyd, a senior researcher at Microsoft Research, noted of social networking websites that Myspace and others were a very peculiar business—one in which companies might serially rise, fall, and disappear, as "Influential peers pull others in on the climb up—and signal to flee when it's time to get out".
After losing the bidding war for Myspace, Viacom chairman Sumner Redstone stunned the entertainment industry in September 2006 when he fired Tom Freston from the position of CEO.
Redstone believed that the failure to acquire My Space contributed to the 20% drop in Viacom's stock price in 2006 up to the date of Freston's ouster.
Furthermore, the opening of extravagant new offices around the world was questioned, as rival Facebook did not have similarly expensive expansion plans yet it still attracted international users at a rapid rate.A key architect was tech expert Toan Nguyen who helped stabilize the Myspace platform when Brad Greenspan asked him to join the team.Co-founder and CTO Aber Whitcomb played an integral role in software architecture, utilizing the then superior development speed of Cold Fusion over other dynamic database driven server-side languages of the time.That deal required Myspace to place even more ads on its already heavily advertised space, which made the site slow, more difficult to use, and less flexible.Myspace could not experiment with its own site without forfeiting revenue, while rival Facebook was rolling out a new clean site design.