Video Content Battle Ready for Prime Time

The next time somebody gets the idea to stick a bunch of Internet egos in the same place, they should think hard about what happened last week in Las Vegas.

That was when Larry Page, Terry Semel and Bill Gates -- leaders of the Internet's Gang of Three that has come to be known as GYM -- Google (GOOG Quote), Yahoo! (YHOO Quote) and Microsoft (MSFT Quote) -- descended on Vegas for the Computer Electronics Show. Somehow, the combination of their powerful visions and formidable net worths conspired with the blinking lights and all-you-can-eat prime rib to cause all hell to break loose.

Since that event, the $140 billion market cap of Google, a single company, surpassed that of Berkshire Hathaway and all its myriad companies and investments -- proof positive that the market has, for the second time in seven years, abandoned the principles of Graham and Dodd. ...