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Steve Jobs showed off video conferencing between a Mac and an iPhone 4 on stage today at Apple’s “Back to the Mac” event in Cupertino, Calif. He showed Facetime video conferencing in a demo with Apple marketing executive Phil Schiller. Now you can talk with someone on an iPhone and they can change the aspect of the video from vertical to horizontal. They can also press a button to activate a video view of what they are pointing their iPhone at with a front-facing camera.