Google Wave is a new model for communication and collaboration on the web, coming later this year. In Google Wave, users create and invite other people to “waves”. Everyone on a 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 what other users on the wave are typing in real-time. 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 to see how it evolved.
This is pretty nice!