Techcrunch just posted this article here. The headline says amazingly that the Myspace decline is accelerating.
This absolutely isn't surprising and in fact makes total sense. One of the dynamics of community sites is the "empty room" problem at startup. Nobody wants to be the first one to the party and would be happening places have to figure out how to address that issue. Once you gain the "cool" factor then it is a race to the top. That is until you aren't cool anymore. Then it is a race to the bottom as nobody wants to be the last one at the party when the party is over. There was a good article about this I read several years ago that actually showed this with math and I think they used Friendster as the example. If I find it I will post.