Also forgot to mention, we have animated GIF -> video conversion. This means uploaded GIFs are converted to video at 1/16th the filesize, and enhanced with better playback tools.
1) no signup/login requirement whatsoever, enabling anonymous video publishing,
2) very low friction uploading - just 2-3 steps to get a video on the web, visible to anyone in the world, from any device
3) lax content restrictions - if its legal, we'll host it
4) no forced G+ integration
Currently focused on the simple utility value, but as usage picks up, we will be targeting some of the larger issues on youtube that are driving content creators & consumers mad.