Prediction:
A year from now we will be using our camera phones (in video mode) to “lifecast” selected events to a network of friends. It’ll work something like this:

Me:
Go to camera phone mode and hit a broadcast option. Optionally include a description of the event – e.g. “My son is walking for the first time.”

My Friends:
Receive a text message that I’m broadcasting an event called “My son is walking for the first time.” Even better, they would hear about it through Twitter. They can click a link to watch the event in real-time. If they decline, they can come back later to watch it on the web. All of my lifecast events would be on that web page, similar to a personalized YouTube channel. Only my friends would be able to view the videos unless I designate them as public.

There will be all kinds of products built around this – lanyards to carry the cell phone so that you can do hands-free broadcasting from you point of view, tiny camera attachments/extensions that can be clipped on (e.g. to a baseball hat like Justin.tv), car dashboard mounts to allow you to broadcast as you’re driving your car, etc.

So who’s going to build this? Or am I just drinking too much Justin.tv Kool-Aid? Here’s Justin describing his vision for the future of Justin.tv. He envisions “a network of lifecasters.”

Update:
Whoa – Radar.net is already there. See it in action on ScobleShow.