The efficiency of communication is deeply correlated to the time it takes for data to be accessed and transmitted. Text based data will always be faster to access and transmit than video based data (not just talking the web here), and therefore will be more efficient. Text is already highly accessible and ubiquitous, and anyone who thinks video is going to replace text is not only an asshole, but probably retarded. Chad Hurley is a douche bag who got lucky and got rich. The company he built hemorrhages money and has done nothing but create an outlet for outcasts and undesirables to communicate their nonsense in a space insulated from society. YouTube is nothing more than an expensive mental institution. This is almost as ridiculous as when Zuckerberg referred to Facebook as an OS. Fucking lucky idiots.
If capitalism is supposed to reward great ideas, then how come it's often hard to believe some of these entrepreneurs ever became as successful as they did? After YouTube cofounder Chad Hurley suggested text will be replaced by video in ten years, the only explanation there could possibly be is luck, according to a lovably grumpy rant by FaceMelter: