American University film professor Kylos Brannon gives an introduction to some of the equipment and apps out there that make smart phones more robust video cameras and practical tips and tricks to shooting better footage. He says that with current advancements in technology [students] have very capable tools in their pockets. It's ultimately all about technique.
Brannon thinks that social interaction makes a huge difference now, in addition to the affordability of the tech. You can build an audience through hard work and perseverance without a huge investment of cash.