The New Generation Google Economy – Living By You Tube

My son made a cryptic comment which caught my attention. He said, “They live by You Tube.”

I asked him what he meant. I notice the You Tube craze these day, he does not even watch TV anymore. You Tube is much more interesting.

Check this out, he was watching it this morning. Even Jamie Oliver featured in their clips.

48,884 calories !!!

The Jamie Oliver clip is here. I will not post it because it is the horrific humour that only 12 year olds on the verge of adolescence will appreciate (and 59,144 calories ! 2.8kg fat !)

So this is what he means by “live by You Tube”.

An overnight rise to stardom best exemplified by PSY, the Korean rapper made famous by Gangnam style. And even better, a personal franchise and best of all, INCOME.

I asked him to list out his 5 favourite You Tube and made a wager with him that they will not be around in 5 years.

Alas, I am already wrong because RoosterTeeth has been around for 10 years and going strong. And this is a company, yes a proper organisation, that makes money by just posting videos of themselves playing X Box games and making snide comments as they play. They get millions of hits just for that.

My favourite RoosterTeeth clip, or rather, the only I watched until the end, is this parody of Iphone’s SIRI.

Jenna Marbles has been estimated to be worth US 2.5 million and is the first girl with a billion clicks.

So here goes his Top 5 list, in order of preference.

1. RoosterTeeth
2. Ngahiga
3. Smosh
4. Jenna Marbles
5. Epic Meal Time

This is an underground economy that is worth millions into billions. All based on web views and we are wondering why LinkedIn’s stock price has quintupled since its IPO in May 2011. We are monetising the clouds and gigabytes.

Yet all is not rosy for this money out of thin air, because as it came, it can dissipate as quickly. Just last week, we had a bankruptcy.

“Syncapse, the social media marketing management company that filed for bankruptcy recently, collapsed despite having a roster of blue chip enterprise clients — such as JPMorgan Chase and Coca-Cola — and 100 small and medium sized business clients…”

And some months back, we had a major coup scored.

“The British founder of Bebo, the social network which briefly soared in the noughties, has bought back the company he originally sold for $850 million for just $1 million.”

So much for wisdom and age that we cannot see the value in things that do not exist. I like brick and mortars when I invest in a company and not buy shares of a 6 man show holed up in a warehouse somewhere in Houston. My basic philosophy has been that we cannot eat or breathe the internet.

Yet this is the new economy now and the boy is right. They do Live By You Tube. What a life man !

I leave you with the Google Glass parody which I found funny as well.