Hmm - it seems that YouTube thinks they have a value of $1.5B. Never mind the cash bleed, never mind the gaping copyright issues. Never mind the complete lack of a business plan - all that traffic just must be worth something.

I have a hot tip for these guys: people love free services that don't poke ads at them. In order to generate revenue, you're going to have to either start charging, or start poking ads. You'll also have to (somehow) get out from under the copyright issues. Whether people will like the site after those things come into play is an interesting question - I think the Napster example might be very cogent here.