How to Kill a Great Idea - Jonathan Abrams - Friendster
Here is the paginated link (6 pages). Great article on what went wrong at Friendster. I find it interesting that Abrams took money off the table (about $4.7 million) when he raised his first VC round.
I also think it is interesting that his all-star assembled team could never agree on anything and because of that, nothing ever got done on the site. Something to think about.