Google is experimenting with another social network featuring partitioned groups of friends like co-workers, mates, family like a huge Venn diagram to protect your boss from your drunken antics and vice-versa. Apparently it was initially leaked by a drunken tweet from one of the founders of Digg! Or was that all part of the tease?
http://www.bbc.co.uk/blogs/seealso/2010/06/tech_brief_38.html
http://news.cnet.com/8301-30684_3-20009159-265.html
http://techcrunch.com/2010/06/29/google-me-facebook/
http://blogs.sfweekly.com/thesnitch/2010/06/here_we_go_again.php
Make what you will in the rumour mill.