Google moving into Skype's territory

From John Naughton's blog:

The toughest question a venture capitalist can ask a company seeking finance is “what happens if Google decides to move in on your turf?” (Thus far, nobody has come up with a good answer to that question, though we live in hope.) Skype, the VoIP company bought by eBay for an unconscionable sum some years ago, has just encountered that moment. Late yesterday I noticed a little red notice on the top of my Gmail screen saying “New Video Chat!” — Google chat had just been upgraded to handle video. And so, after a quick install and restart of the browser, it has. The guys who unloaded Skype onto eBay and pocketed the loot must be grinning from ear to ear today.

Neatly put.