Rupert Murdoch famously claimed that Google could have purchased MySpace for half of the $580 million he paid for it but the search engine passed — if he’s to be believed. Assume, however, he’s telling the truth and that Google miscalculated badly in passing on MySpace. They then went on to do the $900 million ad deal with News Corp./Fox.
They wouldn’t have had to make those sorts of pricey commitments had they bought the social networking site for the $290 million and owned all that traffic themselves.
Is Google‘s reported pursuit of YouTube then an implied “mea culpa” of sorts and a recognition, informed by hindsight, that the company can’t let another similar opportunity pass?