YouTube CEO Steps Down

Why wasn’t this posted as a YouTube video? YouTube Co-Founder Chad Hurley stepped down Friday as the company’s CEO. Hurley, 33, and Co-Founder Steve Chen sold the site to Google for $1.65 billion in 2006, but Hurley continued to work on the service part of Google. Hurley said in a statement that he will be taking on a more advisory role, and longtime manager Salar Kamangar will take over as CEO. Although more than two billion videos are watched daily on YouTube, the site has never been profitable because of the large costs associated with storing and delivering so much content.