It seems like everytime you blink these days, Google is either creating or acquiring another Ajax web application. This time, they have bought Writely. Writely has gained wide acclaim as an amazing Web 2.0 tool that shows just how what can be done using web technologies. The fact that it will now have Google's resources and backing means that the sky is the limit for this young application.
One really has to wonder: where is Microsoft in all of this? When have they made an acquisition that improved their web presence?