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I think Wendi will be more of a liability than an asset to MySpace in China. I doubt she has had much hands-on experience in China since her Star TV days and her track record is not that impressive anyway.
Unless they are successful at poaching a lot of talent I would have thought they would be better off investing into or acquiring an existing player. My prediction is they will make a big bang when they launch (backed up by lots of $$) and then fade over time.
The challenge to myspace china may lies in the nations' different social environment, values, and relationships. Building a giant user base and most importantly binding it with a solid and sustainable revenue model in a fircely competitive industry calls for vision, innovation, and strong execution.
With 10+ years local and global experiences at Microsoft, and especially the product knowledge and operating experiences from MSN space, the rumored candidate LUO Chuan of MSN China may be the best person Wendy and Edward can find for Murdoch.
You need someone from the top, at Murdoch's level, to know China to all its subtleties. A good example is Skype, they formed an alliance with local portal, they "officially" offered pc to pc calling, and "unofficially" offer the pc to phone service which is banned in China for now. Skype can still "go around" the policy unpunnished. Other VoIP Provider like Vbuzzer are located outside China but they just seem to have a way to get their calling credits bought/sold in the Chinese Ebay or Taobao site.
The partner Murdoch/Wendi chose for their China operation, Mr. Tian, is a high profile guy who connects to almost the top level in China. Once the way is paved (I believe it will be paved with the help of Tian), they just need to hire a management team from local elite to run a successful business.
I think MySpace's methodology is correct this time.
Hopefully MySpace learned something and don't make the same mistake.