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Other people have designed cloud-based video editors, but few have as large a vision as Novacut. This collaborative video editing system is coming to life just at a time when bandwidth in many areas is becoming broad enough for such efforts.
There's no denying that video editing is labor-intensive. If the video editing process can be divided among multiple workers, the finished product can be produced faster and with less effort. Stories that would otherwise not be told now have a better chance of being told. We are all becoming richer as a result.
Although not available for public use yet, Novacut is well worth following. This background video by some Novacut fans does a great job of introducing Novacut. You can follow the Novacut blog at http://blog.novacut.com/ The Novacut Kickstarter campaign is at http://www.kickstarter.com/projects/novacut/novacut-pro-video-editor
This story, "Novacut: An Open-Source Cloud-Based Video Editor" was originally published by PCWorld.