TINYURL.COM is neat.

[A Black Falcon]

I'm also a little unclear on the whole point of it. If you want to link, most forums have an option like we do, to turn the link into a shorter word like this. Even without the option, a basic HTML script can serve the same purpose. If you need to remember the link yourslf, that's why there are bookmarks, as well as copy/paste in Notepad or whatever.

This has no reason to exist.

Not all sites allow those shortened links in forums and stuff you know, and long URLs can stretch threads and stuff like that, not fun... this has plenty of reasons to exist.