I'm only posting this because it's public knowledge and most people need to know.
MySpace was Microsoft's flagship technology product in Social. They gave them everything and beyond to float the site, and it still sunk.
Today they're sinking tens of millions of dollars into Techstars, Founder Institute and other incubators offering them 100k+ in free Azure, cash prizes and offering to pay developers.
The latest was an initiative to cash-centicize start-ups into using Kinect for new commercial products:
Microsoft has spent huge cash trying to fix their MySpace boo-boo these past 4 years, but none of these start-ups are even going to come close.