21st Century Hustle

In this economic climate, Its not only the people in the cubes getting fired these days, corporate structures are all about the money. Today the founders of Myspace have been forced out of running the company they started, then sold to Rupert Murdoch. Though, we all know, once you sell your company you become another employee, its still a hard pill to swallow. Just ask David Neeleman, Dame Dash, Steve Jobs etc.

Via WSJ.

The founders of MySpace are leaving the helm of the pioneering Web site that made social-networking a mainstream phenomenon, as owner News Corp. seeks to reinvigorate the once-hot property it scooped up four years ago.

The stepping aside of Chris DeWolfe and Tom Anderson, whose contracts weren’t due to expire until October, represents a pivotal test for the viability of social-networking sites. While social-networking sites such as MySpace and Facebook have exploded in popularity in recent years, they have struggled to generate the kind of revenue and earnings prospects that can sustain them as businesses over the long haul.

Don’t cry though they sold out out for plenty money.