Back in the mid-1990s, most people were happy to “receive” information on the Web. Content (meaning Web sites) was king, and so AOL, EarthLink (ELNK), and marketers responded by trying to create “sticky” Web portals where people would spend long stretches, returning often.

By 2000, the Web expanded, and millions of Web sites meant we all got lost. So consumers entered “hunt” mode, and Google (GOOG) arose as a powerful search engine helping us rapidly find stock quotes or sneakers for sale.

But “do” is where the Web is headed in 2008. Millions of people—mostly the under-35 demographic—have signed up for Facebook, MySpace (NWS), and Twitter. They are leaving single Web sites behind and becoming immersed in social media. Now Internet users can create, contribute, network, edit, share, even steal online, and pass it to hundreds of friends or colleagues. Google Docs helps you edit spreadsheets; Mint.com watches your bank and credit-card balances; Twitter lets you track the thoughts of friends.