We know all about user-generated content, masses of users contributing to burgeoning Web corpus. It’s a manifestation of Web 2.0, the participatory Net, which companies like Google (YouTube), Yahoo (Flickr), Fox (MySpace), etc. are feasting on. In parallel, users are contributing a potentially far more lucrative Web currency–metadata about themselves. It’s the currency that will help Facebook grow into its $15 billion valuation. In addition, users are also contributing structured (meta) data about data, which will help the semantic Web to flower.

85% of American adults use the internet or cell phones – and most use both. Many also have broadband connections, digital cameras and video game systems. Yet the proportion of adults who exploit the connectivity, the capacity for self expression, and the interactivity of modern information technology is a modest 8%.