Over the past two decades, social media has evolved from a niche digital experiment into a global phenomenon that shapes how billions of people connect, share, and communicate. Simple profile-based communities have evolved into dynamic spaces for self-expression, entertainment, and business. The rapid rise of social media giants like Facebook and the subsequent decline of early innovators like MySpace illustrate a central truth of the digital age: innovation is crucial for survival. In this article, we will explore the trajectories of these two iconic platforms to understand how adaptability and creative thinking determine success in the social media landscape.