“Oh man, you gotta see this video…”

Everyone loves YouTube, or at least the numbers suggest so; the total number of siteviews they’ve racked up must number in the low trillions, the most popular video on the site (of course it’s still Gangnam Style) has over one billion views, and YouTube has indeed become so ubiquitous that if a video of something cannot be found there then it probably doesn’t exist.

Indeed, YouTube’s ubiquity is perhaps the most surprising, or at least interesting thing about it; YouTube is certainly not the only and wasn’t even the first large-scale video hosting site, being launched in 2005, a year after Vimeo (the only other such site I am familiar with) and well after several others had made efforts at video-sharing. It was the brainchild of three early employees of PayPal, Chad Hurley, Jawed Karim and Steve Chen. A commonly reported story (that is frequently claimed to be not true), the three had recorded video at a dinner party but were having difficulty sharing it online, so being reasonably gifted programmers decided to build the service themselves. What actually happened has never really been confirmed, but the first video (showing Karim at San Diego zoo; yes, perhaps it wasn’t the most auspicious start) went up in April 2005, of course, is history.

To some, YouTube’s meteoric rise might be considered surprising, or simply the result of good fortune favouring them over some other site. Indeed, given that Apple computers used not to be able to display videos using the Adobe Flash video format used by the site, it’s remarkable (and a testament to Microsoft’s dominance of the PC market for so many years) that the site was able to take off as it did. However, if one looks closely then it isn’t hard to identify the hallmarks of a business model that was born to succeed online, and bears striking hallmarks to the story of Facebook; something that started purely as a cool idea for a website, and considered monetisation something of a secondary priority to be dealt with when it came along. The audience was the first priority, and everything was geared to maximising the ability of users to both share and view content freely. Videos didn’t (and still don’t) have to be passed or inspected before being uploaded to the site (although anything flagged by users as inappropriate will be watched and taken down if the moderators see fit to do so), there is no limit on the amount that can be watched or uploaded by a user and there is never any need to pay for anything. YouTube understands the most important thing about the internet; it is a place with an almost infinite supply of stuff and a finite amount of users willing to surf around and look for it. This makes the value of content to a user very low, so everything must be done to attract ‘customers’ before one can worry about such pesky things as money. YouTube is a place of non-regulation, of freedom; no wonder the internet loves it.

The proof of the pudding is, of course, in the money; even as early as November 2005 Sequoia Capital had enough faith in the company (along with superhuman levels of optimism and sheer balls) to invest over $11 million in the company. Less than a year later, YouTube was bought by Google, the past masters at knowing how the internet works- for $1.65 billion. Given that people estimate that Sequoia’s comparatively meagre investment in the company netted them a 30% share in the company by April 2006, this suggests the company’s value increased over 40 times in six months. That ballsy investment has proved a very, very profitable one, but some would argue that even this massive (and very quickly made) whack of cash hasn’t proved worth it in the long run. After all, less than two years after he was offered $500 000 for Facebook, Mark Zuckerberg’s company was worth several billion and still rising (it’s currently valued at $11 billion, after that messy stock market flotation), and YouTube is now, if anything, even bigger.

It’s actually quite hard to visualise just how big a thing YouTube has now managed to be come, but I’ll try; every second, roughly one hour of footage is uploaded to the site, or to put it another way, you would have to watch continually for the next three and a half millennia just to get through the stuff published this year. Even watching just the ones involving cats would be a full-time job. I occasionally visit one channel with more than one and a half thousand videos published by just one guy, each of which is around 20 minutes long, and there are in the region of several thousand people across the world who are able to make a living through nothing more than sitting in front of a camera and showing their antics to the world.

Precisely because of this, the very concept of YouTube has not infrequently come under fire. In much the same way as social networking sites, the free and open nature of YouTube means everything is on show for the whole world to see, so that video you of your mate doing this hilarious thing while drunk one time could, at best, make him the butt of a few jokes among your mates or, at worst, subject him to large-scale public ridicule. For every TomSka, beloved by his followers and able to live off YouTube-related income, there is a Star Wars kid, who (after having the titular video put online without his permission) was forced to seek psychiatric help for the bullying and ridicule he became the victim of and launched a high-profile lawsuit against his antagonists. Like so many things, YouTube is neither beneficial nor detrimental to humanity as a whole on its own; it is merely a tool of our modern world, and to what degree of awesomeness or depravity we exploit it is down purely to us.

Sorry about that, wasn’t really a conclusion was it?

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