I think I know what your going for and went ahead and wrote a quick way to do it. You can see it here
var showTime = 1000; // time before fade
var fadeOutDuration = 300;
var fadeInDuration = 500;
var textIncrementer = 1;
AnimateText();
function AnimateText() {
setTimeout(function() {
jQuery("#aboutUsText").fadeTo(fadeOutDuration, 0, function() {
if (textIncrementer == 1) {
displayText = "Second text";
}
if (textIncrementer == 2) {
displayText = "Third text";
}
if (textIncrementer > 2) {
displayText = "Fourth+ text";
}
textIncrementer++;
jQuery("#aboutUsText").html(displayText);
jQuery("#aboutUsText").fadeTo(fadeInDuration, 1, function(){
AnimateText();
});
});
}, showTime);
}