I swapped over to Facebook years ago because it was simple and easy to use... that is what the world also wanted.
Myspace never capitalized on their strengths - the youth at the time and their pursuit of music. They could have arranged with movie/record companies to have exclusive content on there for whatever terms those companies wanted so even though their users might have accounts on Facebook and Myspace, they would still be coming to Myspace because Akon, Eminem or whoever is releasing an exclusive track from their album one day before it comes out. It seems to me that Myspace allowed itself to become a bubble and it popped. When people talk about social networking I mention first there was Xanga then LiveJournal. Most of the hardcore LJ fans stayed but most ran to Myspace. Myspace had it's day and one day, Facebook came along. Facebook is rising to fame and Twitter is there also. Side note: is it me or does anyone else think that Twitter is so overvalued for never once generating a profit?