It is for citizen reporting of news, events, opinions and classifieds. It requires a network connection to work. Posts are tagged with location using the GPS, or network location detector.
There is a few users on it, but, it takes time to grow to the point there is a lot of content.
I would like to invite users to post on it and I would love some feedback on it too. I hope you enjoy using it as much as I enjoyed building it.
The app is in the market at https://market.android.com/details?id=com.localbyus, or search for localbyus in the market app.