An implementation of the self-sizing collection view cells demo seen in the WWDC 2014 talk 226: "What's New in Table and Collection Views".
Uses Masonry for sugaring auto-layout and TLIndexPathTools for sugaring collection view code. Uses Cocoapods to manage these dependencies, so make sure you have it installed.
Check out this repo into a directory of choice, and do:
pod install
open SelfSizingExperiments.xcworkspace
I have found that in Xcode 6 beta 5, setting the intrinsic size of the labels to 'Placeholder' doesn't really seem to do anything.