Ever wonder what you get when you cross a comedian, a video, and an audience. A helluva time! Take a look at FunnyorDie. It’s a site founded by Will Ferrell and Adam McKay to promote funny videos (merely 7 weeks ago). It has already received venture backing from Sequoia Capital and its most popular video has been viewed over 31mm times.

Funny Business can be Big Business. Sure, it doesn’t have much revenues now, but as people start flocking to it (to be a star), it’s going to become big and it’s going to become profitable (other than bandwidth, there’s not much cost in running a site like that).

The site is really using Will Ferrell’s power and connections in the industry to cut a niche site out of the YouTube’s of the world. When Mashable comments on it, you know that it’s of interest in the smaller tech community. However, when the NYTimes decides to throw its opinion in, it usually means that it has reached mass market.

Here’s a word of advice to Will and Adam: add some sort of embed code to the video… I know that you had it and took it down… 100 people will read this post and maybe 5 will click through to see the video. If it was in the post, 45 additional people would have seen it. Multiply that by ten thousand blogs and it makes a difference!