Here’s what we read:

So far, YouTube has been a free, advertising-supported service, but Google plans to build payment mechanisms into its video-sharing site.

“With respect to how it’ll get monetized, our first priority is on the advertising side. We do expect over time to see micropayments and other forms of subscription models coming as well,” said Google Chief Executive Eric Schmidt after the company reported first-quarter profits Thursday. “We’ll be announcing additional things in that area literally very, very soon.”

The change in tactics will mark a new era for Google’s attempt to make money from YouTube. The service is tremendously popular, but also tremendously expensive to operate, and Google has been working hard for months to come up with a more successful financial formula for sharing video.

Schmidt’s words came at the same time Google is signing a partnership to show Sony Pictures’ full-length movies and build a section of YouTube devoted to professionally made content.

Google has had fractious relations with companies that produce video, but that’s changing now, Schmidt said. “We are making very good progress now with small, medium, and even large-scale studios,” he said.

The major difference of the second one from the first is the keyboard part. G2/Magic now has no keyboard.

Here’s HTC Magic’s specs:

3.2 inches, 320×480 pixels
Qualcomm MSM7201A 528 Mhz processor
192 MB RAM, 512 MB ROM
up to 16GB via microSD
3G/HSDPA, 7.2 Mbps
WiFi 802.11 b/g
Accelerometer sensor for auto-rotate
Handwriting recognition
3.15 MP, 2048×1536 pixels, autofocus camera
built-in GPS receiver
digital compass

Woah! Digital compass!