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Take my advice with a grain of salt as I'm not a tube expert in any way. Here are my thoughts though:
While you might have missed the gravy, I don't think you've missed the whole train by any means. I see tubes as the next generation MGPs. Many people have started new TGPs/MGPs well after the initial rush around 2000-2001 (not sure about the exact timing as I wasn't in the industry till 2006) and made good money from them.
As far as barriers - I can tell you why I'm not starting a tube site:
- lack of programming knowledge
- unwillingness to deal with DMCAs & lawyers (this might be avoided with a "fake" tube site IMO)
- lack of time as I'm very involved in other projects
I also think that in order to grow a tube site, you need to start trading traffic with other tubes at some point. With so many cheaters around, you better make sure someone's not sending you hitbot/chinese traffic in exchange for your own quality centers.
That being said, I'd love to hear other people's insights on this.
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