Read the case "Social Status: The Rise and Fall of MYSpace"-

Answer the following questions and/or statements in detail:

1. Was it reasonable for Facebook to initially ignore a segment of its market when MySpace was so big and Facebook so small? Use credible sources to support and explain.

2. Friendster turned down a $30 million acquisition offer, and MySpace accepted one for $580 million. Both decisions are considered to have hampered their ability to compete with Facebook. Why? Use credible sources to support and explain.

3. Should they have taken the money? When and how do you know it's time to sell? Use credible sources to support and explain.

4. MySpace later became known as the social networking site for music and entertainment connections. Do you think it can build a highly profitable business around this niche still with the advent of Facebook and other entrants into the marketplace? Explain in detail and support your answers using sources of research. Use credible sources to support and explain.