Via Fortune :

“We grew so fast and could never keep up,” admits Friendster president Kent Lindstrom. “Our page-load times were 20 to 30 seconds when MySpace’s were two or three seconds.” Secondly, Friendster management sanitized its site - much to Anderson’s delight. “They had no room for fakesters,” Anderson says. “If a dog or a city or an idea had a page, they would delete it. Could anything better have happened to us? People said, ‘I’m going to go to MySpace because I can do what I want there.’ "