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It's just about publishing and consuming short, sharp messages. It's essentially just like Facebook statuses, but without all the other guff, presented in a more aggregated form. It's only really of value if you're "following" some good Tweeters though.
The way I see it, a Facebook status should say what you're doing at the moment, but some people use it to write messages to everyone. That's what Twitter is better for, posting something interesting you've found or a witty observation you've just made. Only problem is, I'm far too lazy to update it
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