Are there any Bay Area startups developing "open video editing tools that will enable users to collaboratively manipulate interactive media in much the same way that Wikipedia users edit text entries today"?
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Answer:
Jumpcut had excellent in-browser tools for video editing that could have served as a starting point for this. Unfortunately they were shut down after acquisition by Yahoo! If you wanted to start something like this, you might find ex-Jumpcut people and talk about their experiences.
David Molnar at Quora Visit the source
Other answers
Market7 might be a good solution.
Jim Sinai
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