It isn't that information is exploding, but accessibility is. There's just about as much information this year as there was last year; it's been growing at a steady rate. It's just that now it's so much more accessible because of information technology. The consensus is that a Web crawler could get to a terabyte of publicly accesible HTML. A terabyte is about a million books. the UC Berkeley library has about 8 million books, and the Library of Congress has 20 million books.
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