Were you trying to watch YouTube Sunday when the site went down? It was worldwide video blackout, started by Pakistani government censors who were trying to prevent that country's citizens from viewing videos deemed "offensive to Islam."
Google, of course, says that it's "investigating and working with others in the internet community to prevent this from happening again." It is an anomaly, and it's an inconvenience for internet users. But the blackout is also a wakeup call for anyone using YouTube exclusively to distribute their internet videos.
YouTube isn't necessarily the best way to share internet videos, but it's still where most people go to upload and watch. If you depend on YouTube videos embedded in your web site or blog, your viewers were left wanting during the outage on Sunday. A short outage like this one might not be a big deal, but unless your looking for the worldwide audience of YouTube viewers, you might be better uploading your videos on a private server or using a more specialized video hosting web site.
Even with another video host, you can't be guaranteed problem-free service. But you will avoid the massive glitches that can happen to a company of YouTube's size. Plus, you'll have more control over the content that surrounds your video, and that will create an all-around more pleasant viewing experience for your audiences.