TechCrunch buzz reports both Google and Yahoo are working on a new generation of SNCs.

Socialstream emphasizes improving social connections by making it more efficient to communicate with, share with, and view the social content of all the people in a user’s online social network. Socialstream provides a compelling user experience because it aggregates content across many different networks so a user has a single location to discover new content and communicate. The goal of Socialstream is to present social information in a way that ties it to the person who posted the information, and not the site from which it came.

Here’s a Socialstream Usage Scenario.