Imagine if they ran your computer from the internet because you didn't want to bother with a standard operating system... does that mean all of your documents, music, etc.. would be in that scary world of the internet? It's happening!
(from Wiki)
Google Chrome OS is a project by Google Inc. to develop a lightweight computer operating system devoted to using the World Wide Web. Announced on July 7, 2009, it is set to have a publicly available stable release during the second half of 2010. The Linux-based operating system will sport a graphical user interface based on Google's Chrome web browser and will run on systems with either x86 or ARM processors, and designed for netbooks. Originally it was thought to use a new windowing system, but is now confirmed to be using the X.Org Server. READ MORE
Thanks to Ted Hef for the link!
