Having a Myspace Page: Good or Bad for Networking//Business?

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Hello all! I have a myspace page that I use solely for the purpose of connecting with my friends and posting fun photos. However, I'm seeing a lot of new myspace pages pop up that people use to promote themselves to companies that are also on the myspace network. I think this might be an affective way to get noticed and network with important people and companies. Do you think this is an affective way to market yourself, or do you think businesses won't take you seriously if you use Myspace to get noticed? I'm not looking to get famous, but I would like to promote myself as an Advertising Major looking for a job or an internship. I'm thinking about using my page to post my resume, my portfolio, and more information about me. I want it to be completely professional. Do you think this would work, or would you not take someone seriously if they asked you to check out their myspace page for more information? Have you made a page for employers to look at? If so, did you add companies or businesses that have myspace pages to try and get noticed? Sorry there's a lot of questions in here. I'm just really interested in hearing what you have to say. Thanks in advance!