The Z has posted a new video showing that Homebrew is alive and well on the PSVita despite Sony releasing 2 Vita Firmware updates in little over a week:

Heres what The Z said:

This video shows a running version of the Vita Half Byte Loader (VHBL) by me, The Z, at a PS Vita with the new Firmware 2.11 ! Its at the moment just a Proof of Concept, I am showing that its working. Its running better than a week ago, but I will have to increase the compatability with even more homebrews, but for now, its working fine.

This can not run ISO/CSO, just homebrews!!!