# Have there been any new brilliant computer science algorithms in last 10 years?

From what I'm aware of, this was first introduced in http://arxiv.org/abs/0803.0988, which gave (among other things) an algorithm for minimum cost flow that runs in $\tilde{O}(m^{3/2})$ time (m is the number of edges in the graph). Purely combinatorial algorithms for flows encounter the `flow decomposition barrier' at $\Omega(n^2)$, and to date this is the only algorithm for minimum cost flow that gets below that.
Fast forward 5 years, developments in this direction led to algorithms for finding approximate maximum flows (and multicommodity flows) in undirected graphs in $O(m^{1 + \epsilon})$ time (http://arxiv.org/abs/1304.2338, http://arxiv.org/abs/1304.2077), and an algorithm for maximum bipartite matching that runs in $\tilde{O}(m^{10/7})$ time (http://arxiv.org/abs/1307.2205). The latter improves the previous best running time for maximum bipartite matching of $O(m^{3/2})$ from 1971. At the moment, many in the area believe that almost all textbook graph optimization algorithms (except BFS/DFS and Dijkstra's algorithm) will be rewritten in a few years.