Do you think Facebook will overtake MySpace? Will ...

in a way? yes, but u can see that facebook is becoming more and more "social network like" and i mean - that  u start to see more and more fictional users, like myspace..

and what's interesting more - is that myspace are making interesting changes on the last time - and now, they have editor, new way to see your friend, and it start to look "fasbook like" so it's an bi-directional process....

Facebook is first a social networking site and second a marketing site. Myspace is first a marketing site and second a social networking site. If Facebook keeps this in mind they will win in the end...or at least until something like Secondlife takes over.

Check this stat for more info:

http://mashable.com/2007/06/10/facebook-hammers-myspace-on-almost-all-key-features/ 

right now, myspace is for sham friends and mainly marketing. this is how you can find out what's going on and where in a most effective way. facebook is doing a really nice effort in widget/ appz embedding. i think the future general direction is to stream-share any information any time, anywhere. open-source democracy ! secondlife's current craze will eventually fade as soon as someone will regulate all the sex/ porn in there and technology will find porn a new home. cyber-evolution.

Overtaking Myspace may take some time. But what's important for me, personally, is that Facebook proved it can be done. It proved that the fact that someone else is a market leader, and boasts amazing user numbers, doesn't mean you have to stay out his turf.

Facebook is a great example that no one is safe (not even Google) and that there is no market that isn't worth fighting for.

One more point. Facebbok is what I like to think of as web 2.0 with a web 1.0 User interface. It's so simple an intuitive, it isn't more difficult to use than the good old Hotmail. This, compared with the messiness of Myspace makes it more appealing to "older guys" (30-40) .

Being appealing to this age segment may not shift the overall balance in user numbers but it may shift the "demographic" balance attracting to Facenbook more users that are decision makers and have much more money to spend than the average 16 years old.

It will.  BUT, they have to be careful not to go over the edge with those apps and ads.  otherwise, a new player will take their reign.

BTW, Congrats for the purchase..... Maybe now you will take the wheel from facebook