Live video is less prevalent than pre-recorded footage, and for good reason.
The control you have over pre-recorded video in terms of creativity, content and progression is thrown out of the window when you're dealing with a live subject. What you see is what you get, including any mistakes, awkward silences or inadvertent bad language. Where live television broadcasting can be a complex affair, with large on-site crews to ensure a smooth event, you can quite easily produce a live broadcast that has the potential of reaching a larger audience than the biggest TV companies can assemble. Some, like the Pace Colour Video Camera USB, can capture at 768 by 576, akin to PAL, although it can only manage the corresponding 25fps at less than half this resolution. Judging by what's already been on the Internet, this could include the contents of your fridge, the back of your office, the view from your window or an old bowl of fruit.