Microsoft supremo and the World's Richest Man, Bill Gates, has no plans to create a YouTube clone due to issues associated with copyright violations but he himself watches pirated video clips of movies hosted on YouTube.

In an interview with Walt Mossberg and Kara Swisher of Wall Street Journal, Bill Gates admitted to watching pirated movies on the Internet. Here are some excerpts from the interview posted on AOL News:

MR. MOSSBERG: Talk about YouTube. What do you think about that? Why aren't you doing something like that?

MR. GATES: If we did YouTube, we'd be in a lot of trouble. First of all, people would say, "How do you make money?" Second, they'd say, what about all that copyright violation taking place up there. It's a neat site. I saw a bunch of old Harlem Globetrotters movies up there the other night, it's great.

MS. SWISHER: You watch physics lectures and Harlem Globetrotters?

MR. GATES: This social-networking thing takes you to crazy places.

MS. SWISHER: But those were stolen, correct?

MR. GATES: Stolen's a strong word. It's copyrighted content that the owner wasn't paid for. So yes.

This Bill Gates' quote deserves a mention on the Microsoft Software Piracy website.