Interesting thought from Susan Mernit: What Google didn’t buy.
What Google didn’t buy is an established media company. There are any number of media companies that Google could have acquired for far less than $1.6 billion (though, granted, this was a pure stock deal). Google hasn’t bought an old media company yet. And what they bought was a video/user-content/social networking site.
All of those newspaper site managers and newspaper editors who keep arguing against user-generated content — this post is for you.