Youtube.coms Way of Producing Value and Transforming it Into Money Essay

Youtube.coms Way of Producing Value and Transforming it Into Money - Essay Example YouTube's uses video playback technology that allows the company to display videos with quality comparable to more established video playback technologies that generally require the user to download and install a small piece of software called a browser plug-in in order to watch the video. Although the Flash itself requires a plug-in, said plug-in is generally found in approximately 90% of Internet-connected computers, hence users could easily download. It was the use of this technology that explains a key component of company’ success as it viewers watch video instantly without installing software or dealing with a common problem found in other video technologies stock. According to a July 16, 2006, survey, 100 million clips are viewed daily on YouTube, with an additional 65,000 new videos uploaded per 24 hours (Wikipedia, 2006) (Paraphrasing made). YouTube business must have come to what has predicted long ago where the users of its website may be considered the ‘technocrats’ or part of the ‘knowledge class’. In the early 1970’s Bell (1973) predicted the advent of the information society would which inevitably lead to the hegemony of the creators of information: the Knowledge Class. Touraine (1974) was predicted also about the new dominant class [of technocrats] which defined as knowledge and a certain level of education. Youtube.com's production chain operational strategy is a combination of contributions from creative labor and immaterial labor.