TheStreet caught up with Myspace co-founder Chris DeWolfe at SXSW to find out how Facebook is affecting the rest of the internet industry. DeWolfe pointed out that the price that Facebook paid for WhatsApp has driven all valuations up for emerging tech companies. He also noted that Facebook is tearing itself apart for mobile and breaking up its parts for users, like having Instagram separate from Facebook photos. DeWolfe called Facebook the social glue of the internet.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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