It's hard to overstate just how fast video sharing has caught on. YouTube.com previewed its site in May 2005, and made its official debut six months later. Early last month, Google paid $1.6 billion to buy it outright. Why so much? YouTube is on fire. It's the 10th most popular website in the world, one on which 100 million clips are viewed each day. With Google's money and prodigious web expertise behind it, who knows how far and how fast this phenomenon can grow. But does it have ...

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