Google Chromecast [Video]
On the same day as the new Nexus 7 announcement, Google also announced this little dongle (powered seemingly by some custom version of Chrome OS) that allows you to beam YouTube, Netflix, Google Play Music, Movies and TV shows and even whatever you have in a Chrome tab to your television.
Despite what a lot of articles are saying, no this isn't some Google TV killer or replacement, Sundar Pichai of Google said that the Google Cast protocol that powers Chromecast is actually coming to Google TV (Warren Rehman of the Google TV team also confirmed this).
Pretty much the goal of Chromecast is to be a simple way to bring web stuff to your TV for people that don't want to fiddle with setting up a box and Google TV is for those of us that want something with a bit more power in it.
(Source: Chromemote on Google+)