"Internet Time" is the concept that time moves faster or events compress in time on the Internet much faster than they do in "real life." An interesting event occurred yesterday that brought this home: the YouTube domain was registered on February 15, 2005, making yesterday the third anniversary. In that time, YouTube was purchased by Google a year and a half later (October 16, 2006) for $1.65 Billion (which represented a capital appreciation of $6.8 Million PER DAY by the way); now serves more than 100 million videos per day; has changed the way police departments identify criminals (alleged criminals); has changed the way politicians communicate and are questioned in debates; and has become the 4th most visited Web site in the Internet.
That's hard to compete with using traditional business models.
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