“No, neither Google nor YouTube is engaging in bubble-think — but watch for the onset of that condition in coming days and weeks, as the GoogTube deal gets turned into a valuation yardstick by hungry also-rans and competitors. ‘Let’s see, YouTube had X users and sold for $1.6 billion — therefore my company with 1/20th X users is worth at least $80 million!’ That sort of talk is cheap.”

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