Cuban Continues YouTube Rant

Earlier this month I blogged about Mark Cuban taking a shot at YouTube. Well it seems that Cuban cannot stop talking about YouTube. Reuters has a article on his most recent shots including:

“They are just breaking the law,” Cuban told a group of advertisers in New York. “The only reason it hasn’t been sued yet is because there is nobody with big money to sue.”

Cuban said “anyone who buys that (YouTube) is a moron” because of potential lawsuits from copyright violations.

“There is a reason they haven’t yet gone public, they haven’t sold. It’s because they are going to be toasted,” said Cuban, who has sold start-ups to Yahoo and CompuServe.
“User-generated content is not going away,” he said. “But do you want your advertising dollars spent on a video of Aunt Jenny watching her niece tap dance?”
“Somebody puts up something really good and you get, what, 60,000 viewers?” Cuban added during the event at Advertising Week in New York.

The recent press about the valuations of the social media sites has had the feel of 1999. It does cause me some concern that the social media network appears to be getting valuations that are not based on traditional business valuations. Whether you agree or disagree with Cuban he does make some very good points about the business model of YouTube and the challenges it faces.