On November 22nd, YouTube will host a two-hour event in San Francisco, "a celebration of the site's vast user communities." Looks like we can expect performances from Akon, Soulja Boy, will.i.am and a bunch of online video-powered Weblebrities. And it will be broadcast live over the Internet. So, it turns out that Steve Chen was right after all — YouTube will have introduced live streaming video by the end of the year.

And departed Silicon Alley Insider reporter Michael Learmonth wasn't entirely wrong in his article saying that Google had nixed the idea. Google and YouTube won't necessarily be offering live streaming video to users of the site any time soon. Why, when the search advertising company is already stuck subsidizing YouTube and venture capitalists are happy to continue subsidizing sites like Justin.tv and Ustream with their own money?

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