News: Goodbye Twitter, Hello Google Buzz?

Are Twitter and Facebook in trouble with the advent of Google's brand new social networking tool, Google Buzz?

Financial Times reports,

"The company says it is trying to reduce the 'noise' in social networking and make status updates, tweets and media streams easier to sort through. But at the same time, it is offering a richer, more connected and complex real-time experience by adding in location data, nearby buzzes and related information."

So, how does it work exactly? Gizmodo breaks down the pros and cons, check it out: 1, 2.