MySpace has to hit rock bottom before it can even think about rebuilding into something new

According to TechCrunch, three star senior employees left to go to cross-town startup Gravity.

They heard that Jeff Webber, the engineering director that oversees the email, instant messaging and other “communications” platforms for MySpace, resigned earlier this week as well to join a startup. He’s been at MySpace for nearly three years and was one of the star engineers and leaders, says one of TechCrunch’s source.

Everyone admits that MySpace has no direction. Of course the top executives wont agree with that but rumors are that internal politics are the only things that seem to matter. Ambitious new projects like “remaking MySpace” have been thrown away just because the wrong exec supported it.

Anyone who actually wants to build products has left or is looking for a new job, say many, many sources.

More evidence that this is true: the VP and GM of Mobile John Faith, SVP User Experience Katie Geminder and most of her team and – of course – the CEO Owen Van Matta.

We think that MySpace reached a shameless and embarrassing point form which they must quickly escape at any costs.