For media makers and consumers alike, the game changing power of online social networks is simply this: they greatly decrease the cost of creating so-called "bridging social capital."

During the crisis, the traditional media was not perceived as useful. Meanwhile, the new interactive media was getting people information they really wanted and needed, in real time."

CEO Eric Schmidt believes the Internet is a "cesspool" of false information, and that filters are needed to help sort through the muck and mire.

Given the plethora of information widely available, are average citizens really interested and capable enough to decode that which is useful, credible, "quality information" -- and that which is not?

Are average citizens interested in and capable of decoding that which is useful, credible, "quality journalism" -- and that which is not? And even if they are, will they take the time to do so?