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If Google didn't buy YouTube, there's no way they could have defend themselves against Viacom. They were blowing through their funds at an astronomical rate, and the Comedy Central lawsuit would have killed them faster than Hulk Hogan leg dropping Gawker.
The IP bots were apparently a peace offering to Viacom, to convince them to drop the suit. You have to imagine that Viacom is more afraid of Google's war chest than some VC startup chuds with no viable business model.
Unfortunately, I don't think YouTube would exist the way it was before the dark times... before the Empire.
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