Ok, I thought this was fake when I first heard about it last week. BUT it looks to be true.  Youtube now has a URL shortener!  Pretty cool! Makes it easier to tweet about of course!  Enjoy!

To use youtu.be manually, simply take a URL like http://www.youtube.com/watch?v=FdeioVndUhs and replace the”http://www.youtube.com/watch?v=” with “http://youtu.be/” to get: http://youtu.be/FdeioVndUhs Plug that shorter URL into a browser, and you'll see it redirects to that video.

via YouTube Blog: Make Way for youtu.be Links.