After a $1.65 billion buyout by Google, YouTube is not only a veritable junkyard for all the crap we didn’t watch a couple years ago, but a bloated mess that costs too much to operate, has a huge lawyer target on it, and barely incurs revenue. And to make matters worse, Eric Schmidt, the CEO of Google, has no idea what to do about it.

Speaking to The New Yorker, Schmidt said that it “seemed obvious” that Google should be able to generate “significant amounts of money” from YouTube, but so far, it has no idea what to do.

“The goal for YouTube is to build a tremendous community….In the case of YouTube we might be wrong,” he said. “We have enough leverage that we have the leverage of time. We can invest for scale and not have to make money right now, he said. Hopefully our system and judgment is good enough if something is not going to pay out, we can change it.” More