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Two simple facts:
1. If MySpace were a country it would be one of the largest (11th)
2. MySpace is cheap and cheerful
If you can strike a chord with even a medium sized demographic using MySpace then you will make a lot of money quickly, but remember that because MySpace is cheap and cheerful (it doesn't claim to be, and certainly isn't, one of the best designed social sites) you will not make much return by making gloriously sexy layouts that get spoilt by the banner ads and MySpace junk.
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