QOTD

“This is a company with very little revenue. [YouTube was] growing quickly with user adoption, growing much faster than Google Video, which was the product that Google had. And they had indicated to us that they would be sold, and we believed that there would be a competing offer–because of who Google was–paying much more than they were worth….We ultimately concluded that $1.65 billion included a premium for moving quickly and making sure that we could participate in the user success in YouTube.”

— In a May deposition, Google CEO Eric Schmidt explains why Google paid a $1 billion premium for YouTube.