Upstart is a new sysvinit </tt> replacement that Ubuntu wants to use. Scott James Remnant explained before it is innovating in that it is events based. Now he writes more about it, and one quote is this:
So what are events and where do they come from? (Note that this part is under development, so may change in later releases).
What? So this is the fundamental basic idea where everything is build around and you're not yet sure how it works? Scary.
Not that I'm against it all (but I also don't think it'll be the best solution for everything), it fairly intresting and I'm sure there is lots to be learned before you get it perfected. But I find it a bit ambitious that they want to use it by default in Edgy, the next Ubuntu release.