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Is the hunt for the 'Instagram of video' a wild goose chase?

The camera is some of the most valuable real estate on your smartphone. Take Instagram, which became the dominant photo app on iPhone, thanks to its combination of ease-of-use, stimulating filters, and passionate community. That victory was worth close to a billion dollars. A similar battle is now being waged to own the video-shooting functionality in your smartphone, but as it turns out, mastering video-sharing is a little trickier. Files are gargantuan in size compared to photos, and audio — a key feature of video — can’t be polished up easily by an Earlybird filter. While Instagram can make your subpar photos look chic, market-leading video sharing apps Socialcam and Viddy have...

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