From what I remember, right around the time FB was picking up, MySpace was facing a lot of scrutiny especially around predators preying on children, which was one of the main, if not the only, reason for MySpace's downfall.
The time is ripe for a competitor to enter this space.
No. Beyond USA, Facebook and its app ecosystem is used by people all over the world as a way to do business, this is especially true in developed country, people sell goods via Facebook, adversative and communicate to their customers via Facebook... MySpace never had as much reach and was never central to anybody's life. For many people all over the planet, Facebook and Whatsapp are the only apps they use. A lot of people on HN, because they are westerners, completely fail to understand that and only see how Facebook "fails to moderate the speech they don't agree with".
> MySpace was facing a lot of scrutiny especially around predators preying on children, which was one of the main, if not the only, reason for MySpace's downfall.
No, Myspace failed mostly for racist reasons, ironically, when young white educated people left Myspace for Facebook when the latter was deemed, and I quote, "less ghetto".
From what I remember, right around the time FB was picking up, MySpace was facing a lot of scrutiny especially around predators preying on children, which was one of the main, if not the only, reason for MySpace's downfall.
The time is ripe for a competitor to enter this space.