Michael Wolff: Facebook is . . . MySpace?

2:17PM EST October 8. 2012 – The media business eats itself. General-interest magazines, national television networks and all-purpose portals are always succeeded by an ever-narrower special-interest approach.This has tended to happen over a reasonably long span of time, a generation or two, but in an ever-quickening world, the term du jour is the “disassembling” of Facebook, which, arguably to its detriment, has just added its billionth monthly user.

Not only is Facebook challenged by its inability to grow advertising revenue fast enough — the primary culprit in its 50% share-price plunge — but now it’s facing a carve-up of the social experience.

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