Not long after being snapped up by News Corporation in 2005, MySpace became a much emptier space when many teenagers who had used the social network to share music and photos of themselves in various states of undress decided it was no longer the cool place to be online. A recent blog post has sparked a debate about whether Facebook, which has 1.2 billion users, is suffering a similar exodus. The fuss matters because investors have been very bullish about Facebook's prospects. Its share price more than doubled in 2013, ending the year above $54. This partly reflects the market's insatiable appetite for social-media stocks, but it is also a sign of investors' conviction that Facebook's users will not tire of it.
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