Metacool is a cutting edge site written by Diego Rodriguez, an instructor from Stanford. In addition, Diego works at IDEO, which is probably one of the coolest design firms on earth. Check it out!
From Metacool: "Diego Rodriguez works across the domains of business, design, and technology. He spends his days at the intersection of design and business at IDEO, where he helps organizations grow organically via innovation."
Implications - The realm of innovation and cool hunting is one that modern businesses must keep their eye on, as consumers today are more concerned with the uniqueness of their product than they are with simple function. Essentially, today's consumer needs more than the bare basics to be impressed -- they need to see true reinvention.