I really like YTMND-JaTz's suggestion. Maybe have it done so users control (or at least help control it). Let people vote to decide what is or isn't a fad, then vote on individual sites to place them in a fad category. Also (cocks), seeing as YTMND has been around for more than two years, a "YTMND of Yesterday" section on the frontpage could be interesting. Let people see the highest rated YTMNDs created on this day in previous years.
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