Quincy Smith plays the field

Don't read too much into the participation by CBS in Joost's $45m investment round. The TV network may have also agreed to distribute programming through the video streaming service launched by the founders of Skype. But the relationship between CBS and Joost is a sign more of the promiscuous dealmaking of Quincy Smith, head of the network's online business, than any fixed commitment.

Smith, whom I've heard described as the "charmingest" people in the internet industry, is a close friend of Danny Rimer of Index Ventures, Europe's leading internet investor, who backed the Joost founders in their last two ventures. They worked together at the Barksdale Group, the venture fund set up by the former Netscape chief executive.

But the likeable CBS exec is tight, too, with Google: as a banker with Allen & Co, he won the boutique investment bank a highly profitable position in the search engine's public offering. CBS shows sports and entertainment programming on Google's Youtube video site. (Despite the $1bn lawsuit filed against Google by CBS's sister company, Viacom.)

And I'm sure Smith is just as charming with MSN, AOL, and all the other internet players he's done deals with. Like the flexible investment banker he once was — correction, like a charming cad who makes every girl thinks she's The One — the CBS exec is playing the field.

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