Community & Entertainment Websites

We're all hearing more and more about these "content" sites wheter it's Community-driven sites or Entertainment sites or a combination of both. Blogs (although more like personal journal sometimes, it's still the community it creates that makes it succesful ) or community Forums could be in the "Community-driven" section and other sites like video sharing sites or other user-generated content sites like funny picture / jokes sites could be in the "entertainment" category. Increasingly however, these two categories are merged, like Myspace to become a little bit of both.
So why are they so popular? I think it's because people just like to come togheter, feel part of a group (community), they like to share experiences, give their opinions, critique others and they also just like to have a good laugh. It's simple really and those sites that are growing like crazy and being sold for billions truly have found the internet's pot of gold.
In my opinion content sites are much less of a hassle to run. Since they don't offer any paid service or products for sale (I'm talking about their core-business, some of them still offer "premium accounts" or products)... they don't have customers to deal with. Not having to deal with customers means that you can focus on making your free service continuously better and reliable for your visitors.
I am hearing almost everyweek of sites being sold for riddiculous amounts of money and most of them are content-based websites.
Makes you think. If you ever wanted to start an online business I would seriously consider starting a content websites. Who knows, you might create the next billion dollar idea. Sometimes they are right in front of you. What's so special about youtube? Any decent programmer could create a site like this pretty easily and the idea is nothing complicated, they just made it easier to use and focused on what people wanted.