“An Internet video brainchild of three twentysomething former University of California grad students has won big backers, including Apple co-founder Steve Wozniak and Red McCombs, co-founder of Clear Channel Communications,” Dane Hamilton reports for Reuters.
Hamilton reports, “The billionaire moguls are backing a tiny venture-backed company, Hotswap.com, which has ambitious plans to feed a growing demand for high-definition-like Internet video for everyday e-commerce uses, such as consumer car sales, its founders said.”
“Hotswap.com emerged from graduate computer science research into digital “compression” technology that its founders say can make common digital camera movie clips mimic high-definition television on Web sites,” Hamilton reports.
“‘I like what they’re doing. It’s definitely a step forward,’ said Wozniak, the Silicon Valley wunderkind who formed Apple with entrepreneur Steve Jobs in 1976. “‘Woz,’ as he’s known, said he signed on as an adviser to the company to ‘give them ideas that come into my mind,'” Hamilton reports.
Full article here.
“I give them ideas that come into my mind.” Well, Woz, those are usually better than the ones that come out of your behind. (We kid. We rhyme. We love Woz. TGIF!)
P.S. Our all new-server setup is coming soon. Stay tuned…)