[ashelmire]

Oh, absolutely. But here's the thing - a lot of content wanes quickly in relevance over time. You may never catch up to youtube in terms of total content (at least... not soon). But you can beat them in features, in look and feel, in the way you treat your content creators and users. And that can add up over time.

As Paul Graham said, "There is always room. In a hundred years the only social networking sites will be the Facebook, MySpace, Flickr, and Del.icio.us? Not likely.”

You don't start out by beating the giant. You pick users away here and there. You find a niche. You find other niches. You keep what you have, take what you can. You don't even have to beat the giant ever. Become the number 2 video sharing site. Hell, become the number 10 video sharing site and I bet you'll have more money than you know what to do with, even if most people have never heard of you.