Yesterday Google Wave was announced at Google I/O 2009 and a preview of the collaborative concept was provided to developers. The following is the full 1h 20 min live video from the developer preview.
Here is a link to the video on YouTube if it does not render for you here.
In a rush? For non techies I recommend watching 50 min starting at around the 8 min mark; after the intro’s are complete. That will give you a very good idea of the mind-blowing implications of Google Wave. For techies with an interest in the convergence of web technologies the full video is really a must watch.