Is MySpace set to dominate the internet or will disappear as fast as it sprung up just like friendster?

Jeremy Wright has some interesting points about MySpace.

The power of a community of 100M people (and, let’s face it, blogging isn’t really that much of a community overall). The need to support that many people, as a society, when their culture starts to become incredibly distinct. The need to preserve that culture is huge. Almost as huge as the need will become by some to try and dominate the culture.

Let’s be fair. In April, MySpace will become the most trafficked site on the planet. By the end of the year, MySpace will account for roughly 10% of all web traffic and, by the end of 2006 (if growth and acceleration curves maintain), it will account for about 40% (accounting for a plateau, because realistically we can’t have more people on MySpace than are on the entire web).