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MySpace slowly implodes while Facebook laughs

Oh how the mighty have fallen. We all knew that former social networking giant MySpace is losing and losing heavily now that Facebook has come along and stomped all over its badly designed arse, but things have taken a turn for the even worse over there.

Three top execs have jumped ship, and they have posted a 2% drop in unique visitors (to 124 million), while Facebook's has risen by 16% (to 276 million). That's what you get for having that annoying music player pop up and display your old school mates' unforgivable love for Coldplay.

'What was a bad situation in November 2008 is starting to turn outright ugly', said Michael Arrington, co-editor of TechCrunch. 'Facebook is now well over twice the size of MySpace, and it was less than a year ago that MySpace and Facebook were the same size.'

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