Honestly, we should have just rolled out therapist couches at this CEO Supper Club. I had no idea how much Google angst our LA Loudmouths were carrying.

We’ve already brought you Jason Calacanis on why he decided not to take more money from YouTube, but the conversation about Google went on much longer and was more nuanced.

First, we discussed the age old media debate of content versus distribution — pretty much the question for LA throughout the history of the entertainment business. Jason Hirschhorn noted that Google hates to be called a media company, but guess what? If you fund original content, that’s what you are.

Calacanis explains more about how YouTube has pissed him (and everyone else in content) off with this uneasy relationship to endorsing content on its network. The loud mouths wonder if Yahoo truly has an opening to disrupt Google’s video hegemony with a big acquisition.

In light of this angst, I asked for a company starting now creating video content, do you even go with YouTube or place your bet with a competing distribution platform? Peter Pham brings up examples of LA companies making it work, while Calacanis contends that when it comes to Google sooner or later, “you’re going to get your ass kicked.” It’s now happened to him more than once. Beware, he says. Use Google with caution.

In the last segment, we get back to the idea of whether or not Google is a media company, through the lens of its social efforts. Pham defends Google+, and Hirschhorn offers the damning praise that “it’s the most elegant product they’ve ever made,” but he still doesn’t use it.