This is an interesting post.
Google purchased YouTube for more than a billion dollars. That "pop" you hear is not the end of the Web 2.0 bubble, but the end of the Google Myth.
The Google Myth is simple: to produce good businesses, hire the best engineers and leave them alone except for occasional priority setting. Most recently, engineers have been forwarding around this post from Steve Yegge, which contains an overview of Google's management practices – admittedly, Nirvana for engineers. More than any other company, Google has promoted the myth that these practices produce good businesses.
I think the business press has helped to create and promote the Google myth because, let's face it, sexy business ideas sell magazines. Too bad that their usefulness ends there.