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The idea isn't new: "Social networking" has been around forever. It's the simple act of expanding the number of people you know by meeting your friends' friends, their friends' friends and their friends' friends' friends. And MySpace isn't the first (or the last) Web site to take the concept online. So why does MySpace have more than twice the traffic of Google within four years of its 2003 launch?

Fifty-four million people have profiles on MySpace as of February 2006, and 180,000 more register to use the site every day. By all accounts, it's a phenomenon. Some people call it dumb luck, some call it brilliant and a few call it a sexual predator's dream come true. In this article, we'll find out what MySpace really is, what it can do for you, how it blew past the competition and why Rupert Murdoch thought it was worth $580 million.

On MySpace, your social network starts growing from day one without much effort on your part. That's part of the draw. Basic MySpace networking works something like this:

You join MySpace and create a profile.

You invite your friends to join MySpace and search MySpace for your friends who are already members. These people become part of your initial "Friend Space."