Youtube video of Google’s CEO Eric Schindt schwiped straight from abduzeedo, check it here.
I think if Adobe can nail a realistic distribution model for Flash Lite apps that would enable developers to get content out there, then Flash developers (and by that I mean Flash, Flash Lite, Flex and AIR) can really define “web 3.0″ apps in the way Eric mentions in this video. I’ve always thought that Ruby on Rails and Flash (of any sort) make absolutely beautiful partnership for developing RIAs as Rails offers a low entry for such a powerful set of technologies.
On another, note Flash has always been synonymous with viral marketing and as I truly believe, Flash Lite one day find itself hand in hand with mobile and therefore viral marketing.