A good brandable name allows start-ups get into the industry at a modest cost, and gives them the opportunity to develop an identity for their product or service. I would rather start a web site with a good, short brandable (5-8 characters) than a long tail generic - assuming the same cost/budget.
Keep in mind when deciding on a name for your next project, users;
1. Have a short memory - keep the name memorable
2. Don't want to type - who would want to type in 14 + characters name to visit a site over and over again
3. Misspell words - make sure the name you pick is easy to spell