It's either News Corp. CEO Rupert Murdoch's worst nightmare — or his wet dream. Two recent college graduates, Jess Martin and Drew Chen, have launched, as we predicted, SpaceLift, an application on Facebook that takes a chaotic, ugly MySpace profile page and displays it in Facebook's spare, blue-and-white layout. For Murdoch, who's voiced admiration for Facebook, even though News Corp. owns social-networking rival MySpace, this could be disastrous.

Recent University of North Carolina graduates Jess Martin and Drew Chen are launching a new Facebook application, SpaceLift, tomorrow. Martin and Chen write in an email: "See MySpace as you have never seen her before on Wednesday, August 29th. MySpace is about to undergo plastic surgery." Like many technically adept college grads, Martin is disdainful of MySpace, but he recognizes that it remains more popular than Facebook. On his blog, Martin posts that he's writing a Facebook app — presumably SpaceLift — to pull data from MySpace and "bridge the gap" between the two sites. Given the complaints that Facebook is turning to MySpace, Martin and Chen may well find that more people would rather burn that bridge than cross it.