If I were a VC, I would be making phone calls to Niklas Zennström and Janus Friis to tell them I want to put all my money into Joost, their new company, for a cool 25%. And if they told me to take a hike, I would then fly over to Europe to meet them in person and beg on my hands and knees for them to let me invest.
What is Joost?
Just think of your cable TV at home... then make it free.
Here's a good write up with screenshots of Joost if you want to see what it looks like.
Leave a comment here if you want a free beta invite, I've got some to give away.