Ted,
I don't have pm.
Almost assuredly they are using javascript (likely AJAX). The client side is IP but probably not terribly complex, the data mining on the server-side is where I would expect the most code to reside, that and the application code for creating/publishing content.
I agree the likely value comes from being a 'first mover', assuming they hurry up. I also think the user interactivity is still clunky, but could be something great with the proper refinement by the right visionaries. For example, clicking 4 call to action links creates 4 new pop-ups partially on top of the video you are watching, which, to me, is horribly annoying and amateurish. You have to decide which of 4 windows to focus on, while the video plays in the background, and/or interrupt the video that you are supposed to be focused on. However, if the call to action causes the playing video to change course, BUT CONTINUE PLAYING, leaving the user engaged, that would seem to me to have far more engagement value. In fact, people might avoid interactive videos with all the pop-ups. Not a new idea, but few are doing it yet. Rory even stated in one of his presentation videos, that what they are doing is NOT proprietary, and others are doing it, but they were 10 million lines of code ahead.
I agree time is key, but I'd also encourage you to consider one thing Rory is doing most other tech focused startups don't do well, and that is establishing many strong connections with Tier A & B companies, to create 'first mover' sales channels. Obviously we have to wait to see how that is going, but it's smart to make it such a significant focus before even making money.
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