A project that should entirely live up to the billing "historic cinematic experiment" has begun. Ridley Scott, Kevin Macdonald, YouTube, and LG have asked people all over the world to record (part of) their lives on July 24th, and then much of the footage will be used to create a single film that'll premiere at the 2011 Sundance Film Festival.
This undertaking has been labeled "Life in a Day." It's meant to act as a sort of time capsule, showing what the earth was like at a specific point. The only restrictions involve not including trademarks or copyrighted content (music, TV clips, etc.), and would-be participants must also upload their footage before July 31st.
As for the men behind the project, Kevin Macdonald, who directed The Last King of Scotland, will be responsible for actually editing the footage together, and Ridley Scott, who's perhaps best known for his work on Gladiator, Blade Runner, and Thelma & Louise, is acting as executive producer.
The final product could be quite remarkable. Scott, Macdonald, YouTube, and LG have created a strong incentive for people to participate - 20 contributors will get taken to the premiere, and everyone whose footage is used will be credited as a co-director - so there should be no shortage of material.
More information is available here if any of this sounds interesting to you. Good luck to all involved.