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Even compliments for the latest design are wrapped in caveats like "I can’t believe I’m saying this" and "I kind of actually like the new Myspace." Gizmodo titled its new Myspace review, "Just Die Already." Some of the bile comes from people who invested time and energy into crafting their online personalities and accumulating internet fans, only to have the site turn passe.The story of how Myspace betrayed its users by flooding the site with spammy, gross ads has been told many times in articles like Businessweek’s "The Rise and Inglorious Fall of Myspace," which opens with an anecdote from a loyal user who laments how Myspace had lost its value as a self-promotional tool: "It's done. If you do stuff on Myspace, you just look sad." A good chunk of the hostility toward Myspace comes from the grown-up versions of its adolescent and teenage users, who want to leave their high school selves far behind."We knew where the brand was, and it wasn’t highly favorable.For a lot of consumers, it fell out of relevance." The Vanderhooks believe misfortune befell Myspace when its previous owner, News Corp, failed to realize that the site’s best hope for success was to become a platform for artists.Myspace’s playlist feature allows you to mix photos and videos in with the track list, presenting possibilities for creative expression and a new form of the digital mixtape.Myspace has also teased tools for artists, who can use the site to see who and where their fans are.The site also has some nice features that work pretty well.

"Browsing old abandoned profiles is like walking through a social media Chernobyl." In the stretches between its highly-publicized redesigns, Myspace is most often referenced as a metaphor for obsolescence or in the context of the much-derided "Myspace angle." And yet it continues to be just relevant enough to draw spite from a vocal contingent of users.

The Vanderhooks co-founded a global digital advertising agency, but they have no experience with launching a self-contained consumer property like a social network and no track record of Myspace-level success.

It seems as if they're attempting to take the devalued site and flip it, like a rundown house, into something halfway profitable.

Unfortunately for Myspace, the new site is likely to do little to repair its reputation. You’re supposed to use the new Myspace to get updates from your favorite artists, listen to music on demand, and create multimedia playlists with photos and video.

You can also upload photos, post tweet-like updates, and "discover" content by reading Myspace’s throwaway cultural magazine, a continuation of the Myspace music blog that features random celebrity news, listicles, and shallow articles on artists who are already well-known.

Whether it flops or hits, one thing’s for sure — everyone will be watching.

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