One day we’ll all look back on this bubble and laugh:

YouTube is rumored to have quietly raised another $25 million in venture capital after raising two rounds totaling $11.5 million from Sequoia Capital. The hit video-sharing site might need it: YouTube’s bandwidth fees are said to be approaching $1 million per month.

We don’t get it. YouTube is Napster for video. While they have slyly introduced some advertising onto the site, this hardly constitutes any long-term business model. Unless that business model is “we’re going to get bought by Fox.” Welcome to the bubble 2.0…