As you’ll quickly realize, the features and functionalities offered within myYearbook enable teenagers to facilitate and optimize their real-world social lives and their careers as high school students. Conversely, if you’re not on myYearbook, you will be at a disadvantage, one that becomes more severe with time. For instance, in schools where the teens have adopted myYearbook, parties are planned with the service, they collaborate on classes and extracurricular activities, you can see who’s popular or who lives near you with similar interests… even their search engine is optimized for socialization. Of course, this is all on top of pretty much everything you can do with MySpace. In a complete reversal of the first ten years of online communities, where the inhabitants were the edge cases of society as I described above, for a teen in a high school today where myYearbook has presence, the edge case is the one that doesn’t belong to the service. Consequently, this is something that is not well understood by many “older” execs and investors today.

Nice business model, too.

GigaOM : » David vs. Murdoch er …. Goliath.