TechCrunch has a summary of MySpace’s eye-popping page view and user numbers. MySpace is probably the most discussed online business alongside Google and Yahoo. But with Google and Yahoo, the talk revolves around BILLIONS of DOLLARS in highly profitable revenue. For MySpace the talk is never — even in News Corp’s earnings release — about dollars and cents.

How long will it take for News Corp to turn MySpace into a business as wildly profitable as it is widely used?

As with Web 1.0, the principal business strategy for Web 2.0 is to drive utilization and then figure out how to make money off of it.

Hey, it worked for Google — that means it will work for everyone else, right?

MySpace is the ultimate test of this strategy — and they don’t have an infinite amount of time to figure it out.