CrunchGear

Distribution of legit content is part of the deal… but I believe the more significant part of today’s announcement, which happens to be way at the bottom of the press release, is how YouTube is going to be enabling content owners like record labels to monetize their content when it appears in amateur videos posted to YouTube. I’ve written a bit more about it in my blog if you want to read the details.

Did I miss the memo that gave details in the YouTube “sinking ship” status?

Don’t dis YouTube man! They think they’re worth billions!

As for the “sinking ship” metaphor, I think he’s talking about how they have an inflated self-view of their “business” which doesn’t have much of a business model at all. They recently included ads, which is a hack, bandaid fix to their monetary woes. This company, who has turned down offers to be bought out for tens (or hundreds?) of millions of dollars has no model to make themselves profitable.