The once-social-media darling, MySpace, is now full of vacant space; the other world of Second Life is on life support; and the once-hot AOL acquisition of Bebo turned out to be a has been before it ever was. None of these three social networking websites committed any grave social faux pas (like changing privacy settings overnight), so why did this happen?
It is never easy to pinpoint why certain Internet properties take off, whilst others fail. From Silicon Valley to other tech hotbeds throughout the states, the country is littered with failed or failing social media startups. Their collapse presents a cautionary tale on what other small business owners should avoid when they reach the point of being the hot new thing on the block.
Source: http://www.allbusiness.com
