A dead website,
Facebook ate it's lunch.
Myspace launched in 2003, and got it's surge of popularity around 2005. It was good at first, but had it's problems, easy to hack, lack of care by the ones who ran it,
asshole Myspace gangsters and scene kids galore.
Myspace popularity started to wane around 2007, as
Facebook's popularity started to rise. Since
Facebook was cleaner, didn't allow modification of it's profile pages, had the status updates, and generally kept out the annoying attention grabbing and the
asshole antic(for a while).
Now days Myspace has dropped to around 30 something in the Alexa ranks, while Facebook is number 2 in the Alexa rank.
Myspace's plague of problems, and the drama that began to form around it can be said to have contributed to Myspace's fall. But their lack of care for updating anything useful on the site was a big problem, they neglected the Myspace Group pages, never fixed any major bugs or loopholes that allowed for hackers, and never responded quite
well to help for users.
Thus their fall happened. Only people on there now are late people, scene kids, and maybe the Myspace gangstas.