"The "stream" -- let's call it that, because "river" just doesn't cut it -- is, like tagging, one of those canonical, web-native inventions that is already so totally fundamental to inhabiting an online social system that its adoption is inevitable in every app that plans to aggregate people in a collaborative networked setting. The stream is to this round of the web what shopping carts were to the last one. It'll show up everywhere, but put to very different ends in different places. Let's not confuse the functionality of a site with its overall purpose..."
Link: Pownce is competing with 37Signals, not Twitter!.