"OK, I can finally stop speculating and get a full nights sleep.":http://ces.engadget.com/2006/01/06/google-video-store-announced/
Google, although later than Apple, are a strong contender for the content distribution crown. They also have some integration with the iPod. Not to mention partnering with CBS who is the undisputed content creation champion in the US. Also notice that Google have partnered with Sony... didn't Sony refuse to partner with Apple?
*Next speculation: Apple will bring out a mobile phone/iPod hybrid.* If they don't, they will not survive. Sandisk and others are catching up with their players and we all know how quickly cool can become uncool so reputation will only carry Apple for so long. Just ask Henry Winkler.. eyyyyy. As much as I love the iPod's I would rather get a phone/camera/mp3 player+1 Gig expandable memory from some mobile company because it's cheaper and easier to carry. Apple have obviously been very busy with everything else but it's such an obvious next move.
Unlike Google who just keeps moving from high to high, Apple's stock is stuck at $75-$76. We're on our third challenge of the resistance. Look for something to happen early next week when MacWorld commences. I think Apple have been lost behind the fluorescent glow of Las Vegas' CES.
Oh.. business opportunities. Video will be massive this year. There's very little doubt that video is becoming huge in both mobile devices and home entertainment. While the existing fighters battle it out to release yet another iPod replica, gaps are opening up for you to fill. The most obvious place is to take advantage of the long tail and concentrate on niche video which is what happened with blogging. That said, it's a bit boring and there's plenty of room to experiment with other more interesting ventures. Good luck!