That's right, that myspace thing will start catching on by next year when it turns 10 years old!
So you are saying that MySpace (social networking websites) was a revolutionary idea, and that it has taken until recent years for the concept to really catch on in the form of Facebook and Google+? So that particular concept only took 8 years or so? Still, certainly more than 4 years, so that is yet another example of how revolutionary concepts take more than 4 years to catch on.
These are faster times; businesses can be destroyed by not shipping a good product for two quarters in a row.
Certainly, but businesses failing to make a profit has very little to do with revolutionary concepts catching on. Using your example, MySpace may have introduced a revolutionary concept, but some other business figured out how to make and maintain a profit with it.
People can go from college dropout to internet millionaire in a year. "Party Rock Anthem" was the summer jam of 2011, now the band is broken up.
I don't think many people would consider college, or "Party Rock Anthem" to be revolutionary.