Mark Cuban is pretty hateful on web video. He has hated YouTube forever. Hate does not make you money.

His hate has been misplaced. He should have been hating on Jason Kidd so that he would not have blown the franchise.

He does makes some excellent points about the problems for the web video industry , but when you look at any industry in the top of the first inning, it’s easy to poke holes.

On the high end, maybe $1 billion has been spent on web video content and web video deals (not counting Google buying YouTube for paper). That’s like an afternoon of currency and mortgage trading losses for UBS .

I like the hate. Keeps all the really loose billionaires away so us small fry can build a stake for ourselves.

Tell me web video does not work in three years. In the meantime, hedge the bet by owning GoogTube.

Product placement will be much further evolved in three years…because it has too. If not, you own Google because they will be priniting money for buying YouTube as everyone else will be out of business.

Discovery, syndication (biased – investor in TubeMogul ), promotion/ community (biased – investor in vsocial.com ) and matchmaking for good video and ad dollars is embryonic.

While he hates and makes bad trades, there is opportunity.