Specifically, MySpace lost $165 million last quarter. And according to comScore, it attracted 37.1 million unique U.S. visitors in April, just over half of what it drew a year earlier.

In January, MySpace cut 500 jobs worldwide--nearly half of its work force.

Would you invest in this business? I didn't think so.

If ever there was a time for a , this is it. Rather than undergoing a miraculous recovery, MySpace is more like to follow and into social network oblivion.

Contact Jeff Bertolucci via Twitter ) or at .