"How did an actual conglomeration of corporations actually put out a good product?"
This was the question a friend e-mailed me when he first tried Hulu in late 2007. Indeed, at the time, NBC and Fox's symbiosis was Hulu's most remarkable feat. Its innovation wasn't that disparate TV shows were on the Web, but that they were on the Web in the same place. Fox and NBC--competitors in all other media--allowed Hulu to control their mutual fates and somehow got out of the way often enough for Hulu to succeed. This was not how business was supposed to be done--which is why it's one of the few ways it's going to be done in the near future.