I spent the morning playing with a new site called Storify. It’s still in beta, but I think it could grow into a rather interesting tool.
Let’s say that you were at an event. You and a bunch of people tweet the event live, of course. Later on you might need to explain what happened to someone who wasn’t there and didn’t catch the tweets when they were live. You could use Storify to gather all the random tweets into a narrative. Storify is designed to help you take a collection of tweets and expand upon the detail they provide. You could do a basic story just with tweets, but you can also expand on the tweets by adding extra texts.
You can also build a story out of Facebook updates or content from Youtube, Google, RSS feeds, or other stories on Storify.
As an example, I made a story based on some tweets from yesterday. You can find it here. The site was rather clunky but I got the work done. I don’t see this as becoming a major news source, but as a tool it is quite useful. Instead of having to explain an event to someone who missed it, you can just gather the real time info and bundle it.