Building a list of trusted contacts helps you acquire better information faster. If you are planning a trip to New York and one of your contacts is die-hard New Yorker with a lots of restaurant reviews tagged, what better resource could you find when deciding where to reserve a table?
And it works both ways. There are times when you want to share information with selected contacts.
For example: If you're buying your first house and want family members to track your progress viewing open houses, you could save links to the houses you visit, and specify with a label that you'd like to share them with your contacts labeled "family." Then, invite all your family to connect with you on MyWeb. The next time a family member looks at your saved pages, they can see all the newest houses you toured. Contacts that aren't labeled "family" can't see those pages.