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You can connect to a monitor as long as monitor supports air play or apple provides lightning adaptors for a variety of specific connections. If not buy an Apple TV and connect via hdmi. The lightning cable has a usb adaptor included. As always there may be additional quirks depending upon your particular application or other operating system outside iOS. I would assume yes on your hotspot question. Check what your phone carriers hot spot connection speeds are and that would conceivably be your only limitation.
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