MySpace – “still a great place to work, but it's difficult not being #1 any more”

Pros

Smart People
Fun and relaxed environment
Great opportunity to learn

Cons

The product mostly sucks so you tend not to have anything to showcase
There are very smart people there but they get no respect because they are judged by the product
Pay is not that great and no opportunities for equity
NewsCorp decide too much for the company

Advice to Senior Management

Fix the product already; it's really not that difficult
Invest in the future, don't be afraid of it.