i really can't think of any company on the internet who botched and ruined everything they had more than myspace. i still don't even think they're trying to improve their product yet.
It would take pretty deep pockets to compete with YouTube at this point. Content isn't like search, so YouTube can tick a lot of people off and still not notice.
If Hulu (or Yahoo) had built professional channels, then they might have taken some of the high traffic stuff from YouTube. If the cable-viewers only rule is implemented on Hulu, then they might take myspace's crown away.
i wanted to say digg might be an example, but myspace was such a massive development that i didn't want to draw the comparison. digg's death was certainly quicker.
