Michael
I Love YTtalk
Product Placement can be various things
1. Review a product (positively haha)
2. Name the product in your video, say how good it is
3. Have the product somewhere in your video, you don´t even need to acknowledge it
4. Get paid in the form of products. Say you are a musician, you get a new instrument, that instrument is free because you use it in your videos = product placement
Like for instance, I said the name of my new light source "Profoto" in one or two of my Vlogs, that is product placement and endorsement (I did not get paid for it though awww haha)
And yes, it´s all very tempting, many people start using YouTube because of how high the income can potentially be. Most of those people give up in less than 3 months because they want it to happen right away, don´t work on their content, think they can monetize lip sync cover videos and what not... But for the creative and dedicated it´s a real possibility!
Jonathan
I couldnt agree more there, so we arent allowed to endorse a product like that before we are partners? Sounds odd to me if its free product placement lol thats like me risking a partnership because I said how much I love McDonalds off my own back and showing off my Happy Meal and McFlurry