Master of search and advertising, Google certainly doesn't waste time in it's business ventures! On Friday, I was surprised to read the unsubstantiated, and self proclaimed 40% likely, rumour that Google was to buy YouTube. Now I see that they have paid $1.65 billion for the social video site.

So what of Google Video? What does this tell us about Google's current strategies? First search and advertising on Myspace now they buy up another popular social site, have they run out of ideas or did they miss the web 2.0 boat and decided to throw their money into catching up? What do you think?

Then again, $1.65 billion... if only I had that much to spend.