First an imitation iPod, then an imitation Google, now an imitation YouTube. 

With today’s  announcement of Soapbox on MSN Video, a site that “makes it easy for people to express themselves by uploading, discovering and sharing personal videos,” the Microsoft survival strategy has become clear:  Don’t invent anything.  Let others market test new ideas and if they pan out, jump on them with both lead feet and crush them with a lookalike product and a ton of promotion and ad money.

It could work.  For many years, Matsushita Corp. was known in Japan as “Maneshita” (mane means imitation) because its Panasonic brand did nothing except wait for Sony to develop something cool, reverse engineer it, and then bring out a lower-cost version.  Panasonic has now moved on to bigger, higher-margin pursuits but the company prospered by being content to be a follower.

For Microsoft, a company that seems to have run out of ideas of its own, it’s more treading water.  But treading water is important when you’re drowning.

Check out the new Soapbox site and the distinctly uncool teaser video.

The beta of Soapbox on MSN Video is available on an invitation-only basis in the U.S. If you’re interested in participating in the beta, you can sign up for the waiting list now at http://soapbox.msn.com. Access to the beta will expand over time by enabling existing beta testers to invite a limited number of friends.