Digg is a new "Web 2.0" site where anyone can submit a news story, video, or PodCast.  What makes it unique is the fact that items are "Dugg" and "Buried", or voted on, by members of the community.  The front page only shows items that have reached a threshold of interest level, rather, an "interest velocity".  It is this algorithm that allows the most breaking news to quickly make it to the front page with a relatively small number of votes.