In the 'What's new' box of the Google home page is 'Video Annotations' - the ability for users to add background information or comments about individual videos.
A pretty clear attempt, as far as I can see, to get the users to do YouTube's work for them in creating a user-generated taxonomy ('folksonomy') / metadata schema for YouTube videos, thereby saving Google the trouble of doing it themselves. And with 8 hours of video being uploaded every minute of the day and night it's hard to see how Google could do it any other way. Unless of course they were to buy a certain video search company that has software to automatically analyse both speech within a video and what's actually happening in the video frame-by-frame. You couple that software with a server farm and you are able to analyse all those videos as they come in - you then have a massive, automatically-updated index of video content: an index against which you can either place text ads next to the videos or pre-roll/un-roll etc ads within the videos...
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