It depends on what you are doing. Generally you're right, however we're currently doing work with a group that does live PPV events, streamed over HLS in h.264

It depends on what you are doing. Generally you're right, however we're currently doing work with a group that does live PPV events, streamed over HLS in h.264 in the live case encoding is very time sensitive. (this is a bit of a red herring - the times related in the story are pretty much useless)