Interesting case study of how big corporations just can't do entrepreneurship. 'Course entrepreneurs often are very bad at doing proper strategy but at least they tend to have a long-term focus on their customers - big corporates tend to have a short-term view of revenues.
FT was never exactly "hip" but they seem to have got absurdly out of touch...
The curmudgeonly media baron [...] had re-invented himself as a 21st-century internet hipster
Um, no. Everyone with half a feel of internet culture knew the writing was on the wall for myspace as soon as they heard he had taken over.
There were encouraging signs recently that the site continues to strike a chord with young users. The premiere of New Moon, the sequel to Twilight, was streamed live on MySpace and attracted close to three million viewers – far more than watched a Shakira music video that premiered on Facebook around the same time.
New Moon: this is the film that no two females could occupy one room without discussing how desperately they were looking forward to it. And this is my experience of women 25-50ish, never mind the film's target market. Shakira: that's that chick with the great ass who did that song several years ago, right?