The Web is a compelling new medium being put to all kinds of uses, by everyone from banks to Cub Scouts to flying saucer cults. That said, it can also be a powerful folly amplifier.

The value of a social network is defined not only by who's on it, but by who's excluded.

I think the most important thing that a company can do, not just in the customer space but the employee space, is to be completely open and completely honest. Don't pretend that you're doing something that you can not do. There's an old saying in Silicon Valley, "It's not a bug. It's a feature."

Think about reading: Today, parents would love it if their kids read books more because the parents understand the books. Just over 100 years ago, parents were upset because their kids were reading dime-store novels. Parents would say, "I don't want you inside reading anymore. Get outside and play." I guarantee you, in 50 years or so, parents are going to say, "You're not going outside to play until you finish that video game."

The arrival of television established a mass-media order that dominated the last 50 years. This is a personal media revolution. The distinction between the old order and the new order is very important. Television delivered the world to our living room. In the old media, all we could do was press our noses against the glass and watch.

The difference between our collective generation and your generation (differentiating the reporters from the students) is that we poured our souls out on paper that got easily yellowed and lost. The danger is that many of your friends (nodding at the students) are putting intimate ideas in cyberspace journals. So when today's 15-year-old is 40, some friend is going to drag out all of that idiotic stuff at their class reunion.

I don't think information overload is a function of the volume of information. It's a derivative of the volume of information plus the sense-making tools you have.