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October 15, 2006
What Now For YouTube's Entrepreneurs Chad Hurley and Steve Chen?
At a time when online sales exceeded £100bn for the first time in 2005 according to the Office of National Statistics it's not surprising that Google is racing to exploit the new craze of online video. Chad Hurley and Steve Chen (both only twenty something) agreed to sell YouTube for $1.65bn to Google. In the old new world of Web 2.0, it seems, some of the dotcom entrepreneurial ways may be making a com back.
Despite resemblance of old dot com, Mr Hurley and Mr Chen also exhibit many of the characteristics of the typical new wave of entrepreneurs rising to the top in the latest internet boom. They have anticipated and benefited from some of the profound changes the internet is bringing about, yet they do not make the unrealistic and provocative claims of the old dot com days. The mix of pragmatism and opportunism they showed in building and then quickly selling YouTube highlights an easier going and current style.
Now that YouTube is part of Google's empire, what of the future for Mr. Hurley and Mr. Chen and how can budding entrepreneurs capitalize on online video?
Mr. Hurley's vision for YouTube over the next ten years is to keep moving forward with ad models, develop new concepts and to expand ideas around empowering users with content from professional produced sources. In other words, turn the site, built mainly on d-i-y home movies into a center for mainstream entertainment.
Posted by David at October 15, 2006 12:47 PM
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