Right now on YouTube, a World Record attempt is being streamed Live. This is an attempt to break the record for the highest ever Skydive. At this time, Felix Baumgartner is going upwards to the edge of space to ready himself for a skydive from 120,000 feet. Once he reaches this height he will simply jump out.
The video description on YouTube for the Live Stream says the following:
Red Bull Stratos is a mission to the edge of space that will try to surpass human limits that have existed for more than 50 years. Supported by a team of experts, Felix Baumgartner will undertake a stratospheric balloon flight to more than 120,000 feet / 36,576 meters and make a record-breaking freefall jump in the attempt to become the first man to break the speed of sound in freefall (an estimated 690 miles / 1,110 kilometers per hour), while delivering valuable data for medical and scientific advancement.
On a side note, it is incredible that YouTube is able to deliver these pictures. There are currently over 5.5 million people watching the Live Stream at this time, so it could break some video records as well as a Skydive record as long as everything goes smoothly.
BBC had the following to say:
Where he is going, the air pressure is less than 2% of what it is at sea level, and it is impossible to breathe without an oxygen supply.
There are so many risks involved, and we wish him the best of luck. It is nearing the time where he will jump, as he has reached his height. Right now tests are being performed to confirm that it is safe to perform the dive.
It has been confirmed that he will jump, after checklists are completed, according to a tweet by Red Bull.
Decisions has been made: Baumgartner will jump. http://win.gs/stratoslive