MyFoxSpace

To those of us in the Friendster generation, MySpace is the sandbox where Generation Y plays. (Just experiencing at all those godawful sound, video and color customizations makes my head hurt.) And that sandbox belongs to Aussie media mogul Rupert Murdoch, who now says he intends to turn it into a Yahoo/Google competitor for the 12- to 24-year-old set.

According to the WSJ, upgrades will soon permit users to post and share even more videos, will overhaul the all-important instant messaging, and add a Net phone service. Said Murdoch:

The portal model is in danger of becoming out of date. Young people know exactly what sites they want to go to, and they go there. They don't have to work their way through Yahoo or MSN's home page.

You know, there's something just a bit unsavory about the way that man goes trolling for kids on the Internet, but alas, he's good at it, and he's not alone.