Peter Chernin had this to say during his days as President of News Corp, owners of MySpace, in 2006: If you look at virtually any Web 2.0 application, whether its YouTube, whether it’s Flickr, whether it’s Photobucket or any of the next-generation Web applications, almost all of them are really driven off the back of MySpace… Given that most of their traffic comes from us, if we build adequate if