Over the past six years, social networking has been the Internet's stand-out phenomenon, linking up more than one billion people eager to exchange videos, pictures or last-minute birthday wishes.
The sites, led by Facebook with more than 400 million users, rely in large part on people's willingness to share a wealth of personal information with an ever-expanding network of "friends," either ones they actually know and see from time to time, or those they have met virtually through the Internet.
Members' eagerness to add contacts has given the sites a powerful global reach, attracting users from 7 to 70 years old, from skateboarders to investment bankers, and with them a deep and potentially rich vein of targeted advertising revenue.But at the same time it has concentrated vast amounts of data -- telephone numbers and addresses, people's simple likes and dislikes -- on the servers of a small number of companies. More...
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