From an IM conversation with Rob Diamond:

Rob: Are you up the whole “the Internet is a series of tubes” thing?

Alec: nooooo ?

Rob: OK, must fill you in…

Rob: The crazy senator from Alaska gave this bizarre speech, in which he described the Internet as a series of tubes: http://blog.wired.com/27BStroke6/?entry_id=1512499

Rob: Which really set off alot of really funny responses, including a really great one on “The Daily Show”: http://www.youtube.com/watch?v=fH2_g2qCc1I

Rob: and just saw this today: http://tubes404.ytmnd.com/

…the story continues. Go google it.