YouTube: The next MySpace?

Not really. Facebook apparently wants to be the next MySpace, since it passed on a $750 million offer and is "reportedly on sale, with an asking price of $2 billion," Fortune reports. But YouTube.com is definitely a phenomenon, having seen "the number of viewings on the site shoot up from 3 million a day to 30 million since the Web site's December launch," CNET reports. The New York Times calls it "the latest medium for short, loud adolescent messages." It has some tough competitors with huge resources (Google Video, iFilm.com, and Atom Entertainment's AddictingClips.com), so – besides its huge popularity as a media-hosting site, it's like the early days of MySpace in this way: "Nobody knows how YouTube, which has 20 employees, plans to make money," according to CNET. Maybe advertising? Here's CNET on the competition.