There are plenty of reasons for MySpace's fade -- technical troubles, bad PR, intrusive advertising and security issues -- but one of the site's biggest problems was the emergence of more specialized, less-cluttered social tools such as Twitter and Tumblr, according to this article. MySpace's managers aimed for the right targets, but their upstart rivals ultimately proved nimbler and leaner, says Kent Lindstrom, former CEO of Friendster. "MySpace spent all their time working on tools ... like media players, playlists, video. It turned out you didn't really need all of that," Lindstrom says.

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