Myspace has 1600 employees. I certainly don't want to be mean to any of those employees, but that is way too top heavy for any internet company.

MySpace is part of Fox Interactive Media, which houses some of News Corp's online properties. News Corp last month ousted co-founder and Chief Executive Chris DeWolfe and has shaken up management elsewhere in its digital operations.

A search and advertising deal with Google Inc will expire in July 2010, and it is unclear whether the two sides will renew. MySpace derives $300 million a year from that deal, and most Wall Street analysts believe there is no chance that Google will forge a deal on similar terms.

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If anyone were listening to me, which of course they aren't, my advice to turn myspace around:

1. - Establish a revenue sharing model with profile owners which they can promote both on myspace as well as other websites. Free those music players up for embedding on other sites but with ads locked.

2. - Establish ad network similar to google's but realize the pay per click or pay per impression must be realistic in that content simply doesn't convert as well. Rather than punishing advertisers whose ads aren't clicked, balance clicks with impressions so that ever so many impressions without a click will still cost as a click. Leave it to advertisers to turn off ads that aren't working to avoid paying impression cost. Allow advertisers to restrict ad campaign by both budget and impressions. Understand advertising on myspace needs to be graphical for branding as keyword based ads will not work with content. Give advertisers the ability to bid on ad real estate based on who the revenue is being shared with and how well they drive traffic that converts.

3. Too many people on myspace have their profiles private. That needs to be discouraged. Revenue sharing is one way to do that.

4. Chat and ability to search every inch of myspace is important for viral marketing.

5. Stop looking at users as the enemy bandwidth hogs who never buy anything and start looking at them as potential.

6. No website can make money online when they look at all other promoters as spammers. Myspace has to be a promoter. Stop looking at that as evil.