Just listening to a show that is exalting Google's share price of over $500. just a few months afer buying non-earning YouTube for $1 billion+.

I have only a primitive understanding of the stock market, and one very strong characteristic of the stock market, at least over the latter part of my lifetime, is the lemming-like propensity to 'believe in a model' and pour heavy cash into it. Most model turn out to be flawed when put into practise so lots of money is lost.

As I understand it, Google mainly sells advertising space. It apparently has a few other very minor sources of revenue.
Google's smart targeting is highly touted and apparently envied by all other businesses.

But since when does advertising ONLY make any company worth $500. per share????

And what is it that they are going to be advertising in a few years when all jobs are in China and the best we can do is to sell used WalMart goods on e-Bay?
A market of approximately 68 million in China and probably several million less in India does not compare to the current market(s) now served by Google.

Can any advertising company have a stock value of $500+?