Joe Gandelman praises memeorandum and points to this Guardian article on the news aggregator:
Memeorandum is based on the idea of "memes" or ideas that spread across the web (along with a pun on memorandum). Someone publishes an interesting story, other people find it, discuss it, and link to it. That’s how the web works. Small stories come and go quickly, while big ones generate lots of comment and dominate the page for hours.
The developer, Gabe Rivera, says it’s all done in software. He provides a list of publications as "seeds," but the software still finds stories on sites he’s never heard of. It’s just a question of following links, and then trying to assess the contents. The algorithms are, obviously, secret.
Google also follows links and assesses content, but Memeorandum is embarrassingly better than Google News. Google reckons that the more coverage a story gets, the more important it is. Unfortunately, broad coverage takes a long time to develop, so Google News can run hours or even a day behind Memeorandum. This is fine for casual consumers, but if you’re a news junkie – or a journalist – it’s hopeless.
For memeorandum buffs, it’s must reading.
The Dish 