As lifestrea.ms stores information about what you read, what you post and what you communicate, we are able to enhance this data semantically and generate a stream of attention data for each of your profiles from this. That way you have a continuously updated APML (Attention Profile Markup Language) file on each of your profile pages. By using all these open standards you as a user have full control over your data and you as a developer can build new applications on top of this. Lifestrea.ms even enables users for the first time to practice the vision of a Portable Social Network and the Open Social Graph (not to be compared with the widget-only Google OpenSocial).
Would OpenSocial let developers build a personal CRM system, a console where I could manage my social network, exporting friends lists to various social networks? No. Would OpenSocial let developers build a social search application like the one that Mark Cuban was looking for? No. Set the data free! Allow social data mashups. That's what will be the trump card in building the winning social networking platform.