Waffle Video is a creative platform co-founded by Joey and Josh, designed to connect video creators with AI companies. The company operates as a marketplace where users can film and submit video clips of objects and scenes to train artificial intelligence systems. By facilitating this exchange, Waffle Video generates revenue by bridging the gap between content creators and AI developers who require diverse video data for machine learning purposes. Their innovative approach positions them as a key player in the intersection of video content creation and AI technology.