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Ask dotTechies: should I start a URL shortening service?

The question is simple: should I start a URL shortening service (i.e. like bit.ly or is.gd or tr.im or [insert one of the thousands of URL shortening services out there]? To be honest if I do end up doing it, my URL shortening service won’t be much different than all the other ones (in fact it will probably lack lots of development/extensible related features of commercial URL shorteners). I just think it would be cool to have one =).

So, what do fellow dotTechies say? Do you guys and gals think it’s a good idea? Would you use it if it goes live?

Update: All opinions are valid. So far it seems overall most people prefer me not to go with it so I probably won’t. Thanks everyone for their input.