Serial entrepreneur Justin Kan continues to invest in startups. The partner at Y Combinator knows firsthand how to launch a successful startup, having co-founded Justin.tv as a 24-hour livestreamed video window into his own life. That 2007 startup allowed anyone to broadcast their lives through unique channels. By 2011, gaming had become the most popular category for those livestreams, and Twitch.tv was born. Amazon acquired Twitch for nearly $1 billion in 2014.
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Twitch has finally addressed the issue with ban evasion and has begun battling ban evaders with machine learning.
The app works just like it does on other platforms, with a few minor differences.
I don't think Youtube will allow for someone to take the cream with VR videos, they learned their lesson regarding ignoring trends with Twitch (and they even tried to get a piece of game streaming cake, not quite successfully though).