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Podcast noob. Thoughts?

Nabeel and I have been kicking around the idea of creating a podcast. 

I’m not sure if we are going to love it, get bored, or get excited by it.

But there is only way to find out.

Before we jump in, I’d love to get some thoughts on best software to make this happen. (not looking to get specialized microphones at this time). 

I’m thinking about using Soundcloud on the iphone and just letting it rip.

Other ideas and suggestions most welcome.