The Great MySpace Rock'n'Roll Swindle.
There is a lot of publicity surrounding a rock magazine's creation of a fake band on MySpace that fooled a lot of professionals including Alan McGee of Oasis fame. You can read the details here and here and marvel at the creation puns.
It is said that it proves the power of social networks but I have still not been converted. The key sentence is this one "Griff’s real MySpace site has more “friends” than that of Hope Against Hope, but he has yet to generate the kind of buzz that Q’s fictional band achieved merely by briefly playing the game."
In other words, it was the connection to significant industry players that counted not the power of the social network of the far less influential. The world hasn't changed as much as some would like to believe.