I'm lame and over 30 and only recently joined Facebook, so I'm just getting up to speed and building out my friend network - but even as an FB embryo, the value created by having a central site where friends point out new apps, sites, info, groups, discussions, events, music, books, etc, is obvious.
The internet experience mediated and navigated by a vast collaboration/conspiracy of friends - that is the meaning of Facebook.
Jason Calacanis' explicitly friendly Mahalo (it's "there to help") search service fits the same pattern for me.
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