Corporate bureaucracy kills the network, says former MySpace VP, Sean Percival:
“The analogy I use is like you were the half-time [basketball] coach, and I walk in and it’s half-time, and you’re down by 100 points … They had been beat down by that corporate bureaucracy, they knew they were about to lose to Facebook. They knew that the end was near. They could smell it.”
Short version: News Corp internal bureaucracy slowed site development to a crawl, making it unable to challenge Facebook. But the long version is worth reading.
No wonder Zuckerberg was so keen to keep Facebook independent.