Social networking is a life cycle of Internet royalty.  If there’s a popular fad, death is inevitable. This is the reality that re-surfaced few months ago, starting with the extinction of Friendster. Facebook is a phenomenal and strong force that extinguished its competition; the latest to crumble was MySpace. While the world views social media as a come-and-go situation, the shut-down period at MySpace was certainly a tough time for the people that worked there. Some have gone above and beyond to craft their rescue efforts. But little did we know that the folks at MySpace could turn this adversity into something really hysterical.

Put together by the creative minds of MySpace employees while basking in the twilight haze, the video tries to recreate the usual setting of a brainstorming session of a marketing team. This funny clip was posted by one of our own contributors, Sean Percival, in his Google+ account.

Percival writes:

“During the last few weeks before the sale of Myspace, I gave my team a side project designed to provide a much needed morale boost. I challenged them to create a funny video about saving Myspace. I didn’t give a ton of direction other than to make it funny and make it with no budget.”

The reports that News Corp would be selling MySpace to the highest bidder was an expected decision when its financial performance significantly dropped and pulled down overall figures of News Corp in the last quarter of 2010. Scratching the wound a little further is the $275 million that News Corp spent to resurrect MySpace from doom. A big challenge that made a massive impact in their strategy as a social network was its inability to leverage their own data in a big way.

However, as part of the generation that witnessed the punk coolness of one of the pioneers in social networking, this video reminded me of how the crazy minds of MySpace were able to sustain the site for six years before it succumbed to the competition. MySpace’s demise marks an end to an era. But memories, and perhaps some features of today’s leading social networks could be inspired by MySpace interface and experience.  The legacy will live on.