I had the good fortune to hear PayPal co-founder Peter Theil speak a few weeks ago. He shared a lot of wisdom from behind the podium – one memorable moment for me was his answer to the question, “Why did Facebook succeed where other social networks (i.e., MySpace) stalled out?”
His answer was simple and elegant. “MySpace was started in L.A. as a place where people went to become somebody else. Facebook was started in Boston as a place where people went to be themselves.”