At press time, the most popular video clip on YouTube was “Hahaha”, footage of a baby in a highchair laughing with devilish delight. The clip has been viewed 5.5 million times.

Somewhat less popular, but equally impassioned, is “David Bonderman on the Rise of Private Equity p1”, which features the founder of Texas Pacific Group charting the state of our industry before an audience at the annual conference of North Carolina's Council for Entrepreneurial Development.

Like much of the fare on YouTube, the Bonderman video is clearly the work of an enthusiastic amateur, who in this case appears to be sitting in the audience. The camera pans unsteadily back and forth between Bonderman and his slide show presentation overhead. The video includes a “part 2”,but fails to capture the entire presentation. The cameraman notes that he “ran out of film and so did not get to record [Bonderman's] stories of the companies he has bought, refurbished and sold again.” It is unclear if Bonderman knew he was being filmed, or that his presentation would be made available globally.

The fact that this clip has been viewed only slightly more than 700 times should take nothing away from its distinction as the first time substantive private equity commentary that has been uploaded to the world's most popular video site.