The ersatz politbureau behind the revolution for the moment remains anonymous. Its list of grievances against current MySpace management includes recent layoffs of 50 percent of staffers, the short life of the company following the News Corp. acquisition and the company's inability to monetize what remains a significant presence on the internet. Say the revolutionaries:

We say let's take back a ‘social network' that has a worth high enough that one of the richest men in the world will take his traditional media companies funds and purchase the website for over half a billion dollars. We say that with the right understanding and democratic choices on purpose and function of the network, MySpace can not only return to former glory but also prove a stable and rewarding investment for all its users.

Buy MySpace solicits pledges ranging from 10 British pounds sterling to 100 pounds (an ostensible clue as to the provenance of the takeout bid). So far, the effort has yielded 3,735 pounds. Although MySpace is currently in a lot of trouble, these revolutionaries have a lot more work cut out for them.

mtaylor [at] observer.com | @mbrookstaylor