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Look out for BugLabs, a stealthy startup with an audacious aim: to do for consumer electronics what open source, "web 2.0", XML, APIs and the rest did for the web. In essence, a sudden outpouring of innovation once everyone has the tools to create; I guess you could call it open source gadgets. From the site:
Bug Labs is developing BUG, an open, modular, consumer electronics web services + hardware platform. Designed for the general audience, not just the technically inclined, BUG is intended to bring to the world of hardware gadgets what the Internet, open source, XML and web services have brought to the world of software and media.
BugLabs is backed by New York-based Union Square Ventures, which funded del.icio.us, Feedburner, Tacoda and recently Twitter.