Judging by the buzz, the GoogTube deal is one of those iconic, milestone transactions whose significance is only understood years later. At this point, it's too early to say if it's analogous to the Netscape IPO in 1995, which ushered in an age of irrational exuberance, as well as an era of genuinely valuable innovation. It could just as easily be today's equivalent of the AOL/Time Warner merger, which didn't close until January 2001, nearly a year after the dot-com bubble had definitively burst, graphically demonstrating how top corporations can still commit incredible blunders.
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