If there's anyone who knows about business, it would be Sean Parker. The Managing Partner of Founders Fund (also of Napster, Plaxo and Facebook fame) recently sat down with Fast Company to discuss about businesses, and why some tend to fail. Parker sums it up in this 30-sec clip:

"mySpace never would have existed if Friendster had been a properly managed company. Most of my friends were investors, I was advisor to the CEO, we were all screaming the sky is falling, no one was doing anything about it, classic case of where a company just blew it. And mySpace is another case where a company just blew it. Facebook had not chance to win, we should not have won the market, the network effects at mySpace were so powerful, the only reason we won was because of the gross incompetence of mySpace, systematically, over many years."