cyberianpan writes "According to a Times Online article, MySpace is going into the news business. They'll soon be premiering a service that will scour the internet for news stories and let users vote on which ones receive the most exposure. This approach blends elements of Google News and sites such as Digg and Netscape, which rely on readers to submit stories and determine their prominence. One could see where this might be the 'holy grail' of internet news. Not only will you be able to tap into the wisdom of the crowds, but ultimately your recommended stories could be influenced by the likes and dislikes of your friends/heroes."

The Firehose brought us a link from the NYTimes about Quigo. As the Times feed says: "Yahoo and Google are facing a challenge from a tiny adversary named Quigo Technologies over contextual text ads online." And while obviously not in the same financial league, it is good to see more competition in this space.