Wired.com: Twitter URL Service Bit.ly Says No to Ads, Yes to Data-Mining News
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"[Bit.ly is] going to mine those links to create a real-time news service that would work somewhat like Twitter trends, except that it would track the hottest links rather than the most-used words. The result would be a Digg-like news service comprised of links determined to be important by bit.ly’s analysis engine."