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They have shown impressive performance with 6k and 8k ProRes footage, even ipad pros and latest iphones are pretty incredible when it comes to editing 4K video and exporting it faster than latest macbooks. With Thunderbolt it's also pretty easy to extend high performance storage.

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I assume there's some clever caching from fast storage + prerendering lower res footage to scrub through?

I was going off normal recommendations for video editing on x86 desktops/laptops. But it makes sense they'd go the extra mile on the software end to make it work on phones.

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