Where to find the next YouTube?

With all the hype about Google’s purchase of YouTube – I think we are in for an onslaught of innovative upstarts dishing up video.

Take something as basic as how you track down specific clips. Getting video search right is critical because the technology is still primitive. Upstarts like Blinkx and TVEyes, are looking for actual images and spoken words.

But the startup that’s creating the biggest buzz is the Venice Project which is tackling the problem of streaming long videos of nearly high-definition-TV quality in a cost-effective way by counting on peer-to-peer technology (P2P).

That’s no surprise founders Janus Friis and Niklas Zennström are the masterminds behind two of the best-known P2P applications: Kazaa, the infamous music file-sharing service, and Skype, which eBay bought for $2.6 Billion!

So where’s the Buzz? Not sure yet – there’s still plenty of work to be done before video blossoms into its full potential. What’s the advertising model? How does search work? What’s the syndication model? It’s the same questions asked of the Web in 1995 that startups helped answer.

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