Facebook is similar to a phonebook, says Murdoch

In News Corp's quarterly results call, Rupert Murdoch explained that Facebook is not a threat to MySpace. Why? Because MySpace is about self expression while Facebook is a phone book. Sorry, Mr. Murdock but I think you're missing the point. Facebook is much more than an address book which is why its gotten such phenomenal adoption. It is a platform that's becoming so pervasive, that for many of its users it is more important than the broader web. Is this good? Not necessarily, but it is happening. The reality is that privately News Corp is frightened by Facebook which is why they've joined OpenSocial and are opening up their platform more.

View the graph below to see how Facebook's growth over the last one year compares to MySpace and Linkedin (which historically as been more akin to a phone book).