When you live in New York, you hear many times that it's all about location. You can have a tiny restaurant in the Village, serving 1,000 people a day -- or a bigger place outside of the city, with less access to customers. So location is everything for retail and restaurants -- but switching industries, let's talk online video.
It's inevitable that everybody and anybody will play armchair quarterback with YouTube's decision to spend $300 million on content ($100 million on production, $200 million on promotion). The irony is that by democratizing video content creation and consumption, YouTube unearthed the reality that what audiences actually watch and what advertisers want to advertise on are very different things.