Since Myspace’s founding, several social network spinoffs based in California — have helped leverage the area’s strengths in entertainment, media, business and technology. #digital #technology #crowd

“In terms of creating enterprise value, of starting companies that are hiring and generating revenue, I’d say by far this is the most successful aggregation of entrepreneurs that has yet come out of L.A.,” said Paul Bricault, a venture capitalist at Greycroft Partners and a managing director with a digital media accelerator, Amplify.

http://www.nytimes.com/2013/09/08/technology/from-myspaces-ashes-silicon-start-ups-rise.html?nl=todaysheadlines&emc=edit_th_20130908