Yes, yes, we know – MySpace still gets more traffic than anything else in the business.  It hasn’t gotten even half the love or attention in business and media circles, however, and so the social network seems ready to make its own little ecosystem.

Following an interview with cofounder Chris DeWolfe, Brian Stelter revealed, "Mr. DeWolfe is nurturing another project that promises to help MySpace grow: an incubator that will form new companies and function like a start-up.  The company, tentatively named Slingshot Labs, will be financed by the News Corporation but exist as a separate company."

Now, there’s no need to brace for a Google-like onslaught of products and services (the search giant has at least 94 separate blogs) – Slingshot Labs, or whatever it winds up being called, "will nurture four or five consumer Web sites at a given time."

Still, looking at this from the other side of things, MySpace won’t want to be too slow; no timeline was given for the launch of Slingshot Labs, and Facebook seems to be approaching a sort of tipping point.