Live video is going to be tough for YouTube. I have two cats. 99 percent of the time cats just sit around. Who is going to watch that?

I'm thinking it would be great for sporting events. I can see all of the soccer moms and dads streaming junior's games.

What about those people who have data caps ..We don't in France, but I think that a lot of people in the USA do ..maybe elsewhere too ?

This is likely to blow huge holes in their data allocation.. streaming juniors games all the family are going to want to watch ..and blow a weeks data allowance on the first half of a game ..ow!

I'm sure they have already done this with some rock concerts ?..Seems I have seen at least 2 events in the last year maybe done this way ..Plus "Home" was run in HD for a simultaneous world wide release ..and is still available here [youtube.com] ..but if they allow the moms and dads to do it ?

our live streaming beta platform, which will allow certain YouTube partners with accounts in good standing to stream live content on YouTube

Certainly doesn't sound like competition for Ustream (at least not yet).

99 percent of the time cats just sit around. Who is going to watch that?

Some people probably would - the real question is "would they click the ads?".

Live entertainment (music in my case) could be interesting though.

Then the old tagline "Broadcast Yourself" might finally be meaningful.

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This is just the tip of the iceberg. Have you read the recent announcements about Google TV? All this ties in together. We're all over it. I've already got my HTML5 Google TV template set up and we're testing over the next few weeks.

Have you read the recent announcements about Google TV? All this ties in together.

Agreed. Nothing to do with user-generated content or broadcasting yourself.

They might tack that on later, but it's not exactly a money-spinner.

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Mega cool! YouTube nailed it with this one.