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MySpace's story is an almost stereotypical coming-of-age tale for Internet start-ups, a modern-day bildungsroman of social networking. The idea was birthed in the seedy underworld of the Internet by the same folks who brought you such innovations as spam, the pop-up ad and spyware. The site itself was a rip-off, a hastily thrown-together clone of its predecessor Friendster. Both sites missed the heyday of the Web bubble, but there's something to be said for persistence and a good idea, and MySpace quickly grew far beyond anyone's expectations. (See TIME...

Author: /time Magazine | Title: Stealing MySpace | 3/27/2009 | See Source »

...many of us were operating, consciously or not, with a dreamy gold-rush vision of getting rich the day after tomorrow and then cruising along as members of an impossibly large leisure class. (That was always the yuppie dream: an aristocratic life achieved meritocratically.) Now that our age of self-enchantment has ended, however, each of us, gobsmacked and reality-checked by the new circumstances, is recalibrating expectations for the timing and scale of our particular version of the Good Life. Which, of course, fuels the ferocious anger at the Wall Street rich even now getting richer with subsidized eight...

Author: /time Magazine | Title: The End of Excess: Is This Crisis Good for America? | 3/26/2009 | See Source »

...that decade's sharp left turn - civil rights, feminism, gay rights, environmentalism, sex, drugs, rock 'n' roll - became part of the American way of life. In the same way, even as we now rediscover the need for sensible regulation and systemic fairness, the fundamentally good lessons of the Reagan age - entrepreneurialism mostly unbound, proud Americanism - will endure. The babies will not be thrown out with the bathwater...

Author: /time Magazine | Title: The End of Excess: Is This Crisis Good for America? | 3/26/2009 | See Source »

...ambitious goal - but Baucus is not used to giving up. At age 67, he still pushes himself to do 50-mile ultra?marathons. Running one in Maryland in 2003, Baucus fell at mile 8 but still managed to finish the remaining 42, bleeding from above his right eye. On health care too, Baucus knows that there may be a few bumps between him and the finish line...

Author: /time Magazine | Title: Max Baucus Is Mr. Health Care | 3/26/2009 | See Source »

...folk ride their bikes or snack in the open air. But in Asia - not just in Shanghai, but along the Chao Phraya in Bangkok, or in Hong Kong's harbor - waterways are not pretty at all. They are busy places of work and commerce, the arteries of trade, that age-old process of exchange that, more than anything else, has lifted millions of Asians out of poverty in two generations. (See pictures of China on the wild side...

Author: /time Magazine | Title: Global Trade: The Road to Ruin | 3/26/2009 | See Source »

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