D recently told me about digg. He was in a meeting one day, and mentioned something about Slashdot, and the tech snob he was talking to said that "Digg is the new Slashdot". I can just see this guy rolling his eyes and thinking "Slashdot is soooooo last year!" Not a week later, digg was profiled in the Wall Street Journal (subscription required).
What's Digg? According to its own website, "Digg is a technology news website that employs non-hierarchical editorial control. With digg, users submit stories for review, but rather than allowing an editor to decide which stories go on the homepage, the users do." Digg's faq provides additional explanation.