Facebook Lite: Facebook Needed a Diet (via Mashable)

Facebook Lite (if real) will continue the Twitterfication of our once beloved social network. What happened to that sweet algorithm that could tell who we wanted to see. They also improved their search. In this post, the site writes about their improved search engine sneaks in news about their acquisition of FriendFeed.

Online Video Surges : 11.2 Billion Streams in July (via Mashable)

Well, as Ashton Kutcher said on this week’s live Diggnation, “The movie business is going to pot if they don’t figure out how embrace this digital revolution.” Let’s all hope for ubiquitous live (television) streaming one day.

Project Retweet: Phase One (via the official Twitter Blog)

Project Retweet is Twitter’s official take on a widely popular unofficial feature. It looks pretty cool and should free some space up in the 140 characters have the original tweeter more represented in the relay of information.