Core77 is having a one hour design challenge on theft proof bicycles, and someone posted a link to this video as a consideration to the designs. I was more intrigued on the social aspect that no one interfered with someone so blatantly committing a crime. A police officer actually stopped the camera man from video taping over the person breaking the lock, and a passer by gave him assistance. So, we feel the need to intervene across oceans, and can't do anything about the problems right in front of us? What is the social science behind that?
So, my 1 minute solution [which leaves me with an additional 59 minutes to dress it up, and reconsider its flaws], is an identification flag, with a picture of the owner on it, and the phrase "please look after my bike." That way, if anyone other than that person starts messing with it, everyone knows.