Steve Wozniak, co-founder of Apple, has decided to back a new firm called Hotswap. Hotswap specializes in video compression technologies, and they are currently offering technology that focuses on making digital media file sizes smaller thus enabling shorter uploads while increasing both image and video quality.
The potential applications for various types of e-commerce are quite exciting. If this technology becomes widespread, we might start seeing much clearer pictures and videos of the products we’re shopping for online.
There’s no word yet whether or not this technology might be used to shorten delivery time of digital media from pay-to-download movie services, but that would seem another potential application.
“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.
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.”
At present it seems that “Woz” is simply an investor, which might be the best way to avoid any conflict issues of interest with Apple.