Executive Summary

Four basic developments in on-line world in past few years.

1.Decline in cost of media distribution - due to digitization and broadband.

2. Rise of user generated content"participatory media" exemplified by success of web-sites such as "Myspace" and " You Tube".

3.Rise of sharing - deliberately (through Wikis) or involuntarily.

4.Organization of information is changing - from hierarchy of information ( taxonomy) to categorization of on-line by web-users (web pages, photographs and links for themselves).