UPDATE:  Check out my newest post “A Look Back” that was written in 2011 on the battle between MySpace and Facebook.

Facebook seems to be a hot topic everywhere I look. Right now, Im sitting at my old school library, and it’s amazing how many people are on facebook when you look around. This is just an observation, but its a trend that I’m seeing more and more! But is it a fad? Will it just fade away…Im guessing that Facebook is here to stay.

Yet, its main competition, MySpace, could prevent Facebook from being the leader! Now, Im not too concerned about number of users or even how much money they bring in compared to MySpace, but instead, what value they add. Are they serving a greater purpose than MySpace? Let’s try to bottle down the key features of both facebook and myspace to see:

Provides a legitimate social networking platform

  • MySpace: Yes, but who is part of the network? Probably, friends you met at a party, someone who is in your class, someone you think is cute, or spam.
  • Facebook: Yes, and although the network could be any of the above, it also includes colleagues and business professionals. That’s the difference! The network on Facebook is a lot more professional and older. Obviously, MySpace has its own niche, but will this survive the rapid popularity of Facebook?

Provides an opportunity to show one’s personality

  • MySpace: Yes, all power is in the hands of the creator. This is something MySpace has mastered! And the younger generation loves it! But, does it get old? Well, I know my sister loves MySpace and so do my parents, but what about my generation? Where do we go? FACEBOOK…but can facebook keep my generation for long?
  • Facebook: No, theres not much room for creativity. Of course this is the intention, but is it the right strategy? I know its great for my generation, but will it withstand the generation swings? Can Facebook keep people like me interested?

Web 2.0?

  • MySpace: Although, I’d say that MySpace has some good web 2.0 widgets, its just not up to par. Then again, this might not be their strategy. But, this could put them significantly behind competition if they dont keep up because their users are evolving…and they need to be aware of this.
  • Facebook: Absolutely! I like the whole idea about the Feeds (although some think its a bit invasive). Plus now you can import flickr photos directly to facebook!

Here to stay?

  • MySpace: Yes, but for who? I feel like MySpace is very niche, either you like it or you dont! Can this keep them the top social networking site? Im not too sure
  • Facebook: Face it, we are all on it or at least talking about it. Even the Community Evangelist at LinkedIn, Mario Sundar, has a facebook account. AND even Jeremiah, who asked the question if he really needs it since he already has LinkedIn and his blog, signed up and is adding friends.

What does everyone else think?