What's so good about Facebook? instead of the classic Myspace?

To me, I think they are both a waste of time. They are only good if you have an old friend you want to see what they have done in the past years you haven't seen each other. Then, you can say Hey want to meet up or Hey what's your new phone number. The only other thing is if a business requires you to have one of these. Other than that, if you want to get popular, get a Youtube account because you can at least make money off of that.