Honestly I don’t want to summarize this Speaker Text press release (via Tim Post) because it reads like a crisp short story (see Post’s writeup). I’d feel like I was Cliff Noting a classic and depriving you of the experience of reading about a company as if you were between chapters of a Grisham novel at 2:00 pm on a sweet summer afternoon.

The story of bootstrapped entrepreneurs is compelling and humble, and will attract far more interest than a brovado dot com launch where two idiots try to sound like a giant new company to lure TechCrunch and investors.

Oh- and the offering? Kick ass, yeah. Going out with a low-cost model to solve the problem of indexing video. That will raise the barriers to entry, and nobody has cracked the video-to-transcript space well. Even Mother Google, who will probably buy ’em.

The idea is to let people search the transcript of a video, then dive RIGHT into that portion of the speech. Ever read a quote Obama says, and then want to see the clip? Zoom.

The bigger idea is allowing a video creator to point to original material without actually lifting it (copyright infringement) but making it easy for the viewer to dive in and out of the source. That takes care of a lot of video theft, and is good for creators, viewers and publishers (if they can figure out how the hell to monetize that 3D chess of a model).

Hell I’ve got nearly 1000 videos representing maybe 3000 hours of nonsense that might contain something that interests someone, but it’s hidden from search engines except via tags which are SO 1998 Google doesn’t even use them except on YouTube.

I likey.