Google Wave..is going to cause a wave
Here's how it works: In Google Wave you create a wave and add people to it. Everyone on your wave can use richly formatted text, photos, gadgets, and even feeds from other sources on the web. They can insert a reply or edit the wave directly. It's concurrent rich-text editing, where you see on your screen nearly instantly what your fellow collaborators are typing in your wave. That means Google Wave is just as well suited for quick messages as for persistent content — it allows for both collaboration and communication. You can also use "playback" to rewind the wave and see how it evolved. This is a snippet from the official Google Blog
http://googleblog.blogspot.com/2009/05/went-walkabout-brought-back-google-wave.html
The best part of this is Google is opening the API quite early to developers to give feedback and to also develop new apps using this API
Google sure is omni present in the Internet..this is one more example of the same
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