Robert Young writes:
What happens in a future where video, not text, is the fundamental element of the web? If Google cannot translate and convert the advantages it had in a text-dominated web into a future web of videos, Google is in trouble.
In a web comprised of text, Google could dominate the market in terms of aggregation, search, and distribution without the need to strike one single agreement with content owners. All Google had to do was crawl and index.
But, in a web comprised of video, Google must deal with content owners and strike licensing and distribution agreements, as neither its technologies nor current copyrights laws enable it to autonomously automate the aggregation of a video library without the explicit consent of content owners.