As reported last week, Google has decided that spending $1.65bn would be a good idea to acquire You Tube.

Clearly, Google thinks this is a good idea, I would imagine that the founders of You Tube would agree and no doubt there are some copyright lawyers rubbing their hands in glee that they have a target with remarkably deep pockets to go after on behalf of all the copyrighted videos that somehow find their way onto the You Tube site.

But just what makes You Tube so attractive when Google, along with the other major players in the sector, have their own products. Well, clearly the visitor levels to the site are a major part of this together with their spending potential for online advertising which is, let’s face it, Google’s primary source of income. But is that it?

Personally, I’m tempted by the argument that the major players are showing that they realise that the social communities and social networks on the web are going to be the places which will continue to grow and where people will “congregate”. Where there are people, there is of course also value.

And this is why I feel that it is particularly worthy of mention here. Blogs can also develop into a type of combined social and business network, albeit on a micro scale. The topics discussed and the type of people attracted will depend on the subject matter of the blog and will therefore be broadly led by the author who also imbues its , but it is the participation of the readers of the blog which really give it its character over time.

Why are blogs particularly suited to this? Primarily because, when developed well, they embody the ethos of sharing and of community that social networks display. In successful blogs, information is freely shared and linking to other sources is generally done on a merit basis rather than because of a shared desire to belong to a “link farm of two”.

In doing so, good individual and business blogs put themselves at the heart of a network or a community which forms around a blog. This happens because it attracts and draws together people with similar interests and allows them to communicate with each other. And that of course is great for business too!

We may not all be able to create a community which we can sell on for a 10 figure sum (!), but in our own ways we are trying to do just the same as You Tube. We are creating an environment where not only the author, but all the participants can share ideas and opinions on a diverse range of subjects and learn from each other.

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