Why did we change ?
Social media has been defining the way we live our lives and even the way we think. It all started with one company that revolutionized and invited what social media is, it was Myspace.
Myspace was founded in 2003 and it’s popularity started to rise in the years from 2005 when Rupert Murdoch’s News Corporation (the parent company of Fox Broadcasting) bought Myspace for $580 Million. Myspace continued to grow exponentially until the year 2008, however since then we started seeing a very visible drop in the users of Myspace. At that same time Facebook started to boom, from 2008 till the present day, while Myspace continued to plummet. It’s almost as if Facebook stole all of Myspace’s users. That shift of users from Myspace to Facebook was a very clear example of an information cascade, as people started moving all together from one social platform to the other just because it was gaining more popularity. Also this showed that it was due to Direct-Benefit Effects as Facebook was opening the floor for third party users and devolopers to use Facebook to have games on, as well as providing more privacy than Myspace and being able to control who can see your stuff.
