Here's the hot news from Davos: video sharing site YouTube plans within the next few months to begin sharing something else: its revenues. Co-founder Chad Hurley told the Financial Times that the site will begin rewarding the creators of video with a cut of the advertising action on the site.

Ah, the loss of innocence. When The Browser met for lunch at Michael's with the YouTube boys long ago last August they were mightily unimpressed by the notion of traditional advertising, let alone Revver-style rev sharing. "A big piece of what we're doing is building a new advertising model," said Hurley with revolutionary fervor. But Hurley appears to have come around a bit on the subject, as he told the FT: "We didn't feel it was a great way to build a community. We wanted to keep it pure."

And now? "We are getting an audience large enough where we have an opportunity to support creativity, to foster creativity through sharing revenue with our users." Sharing the wealth will surely do wonders for creativity, but no doubt the pressure of justifying their $1.65 billion purchase price and Google's (GOOG) earnings picture helped ease the transition.