Lifecasting will attract a certain initial audience but to me its the least interesting thing about justin.tv They want to be youtube live. The opportunities for small theatres, musicians, sports, awards and presentations etc to create a live event online is huge. The difference between a youtube video that can sort of limp along without context for years to come, and a live event will be very important if they can do it right.

At the moment though, they just aren't set up to make short snippets of content from different broadcasters easily findable.

The distribution of tech is a problem as well. Another random idea; I wonder if they could set up a post based rental of equipment for one off events.