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Buzz is quite nice, I like it. Integrated into Gmail and automatically hooks into Picasa and automatically follows your friends - it's an opt out model. Along with Google profiles and other Google friend features (eg friend search results) it's pretty cool.
The thing I like about it is it's simple - no annoying games, no people stalking you and requesting you as a friend. It's like twitter, but better because it's more intuitive and it's integrated. Twitter has got too messy with all the tags and re-tweets - re-tweets are annoying because it allows knobs to spam you with all their friends annoying tweets. Facebook has got massive... MASSIVE issues with privacy that people are to ignorant to acknowledge.
Google Wave appears to be some sort of experiment - it's certainly not taken off but I think they're still defining the lines. Basically it appears yo be a sort of collaboration tool, it's interesting because it's the first open source, widely available collaboration tool available to the general internet population for free. In the past collaboration has been exclusively used as a business tool, an expensive business tool. Maybe things will change in the future - I don't see it being popular but when new tools/technology become available to the masses interesting things can happen.
Google's mistake I think was they sold it as the "new email revolution" but it's so different from email that people are confused about how to use it and where it fits in with their lives - I can see as a collaboration tool how it might work, but until they've finished messing around with it we wont get a good idea of how it will.
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