How to make a website like Myspace?

I'm a web designer and my next project is to make a website from scratch exactly like Myspace. I would like for users to be able to create a personal account and have a profile.
Also, the ability for each user to upload pictures, send private messages, embed music and videos, etc.
How can I make a website like Myspace, is there specific software I can use to make things easier?

Creating a website like Myspace is very difficult and requires a good programmer.
If you're just a designer and never programmed a website before then I say you buy a Myspace clone script like DZOIC Handshakes.
It will cost you money but you will be able to install it in less than 30 minutes and you'll have a complete website that works similar to Myspace or Facebook.

Jamroom is your best bet by a long way