This paper summarizes the results of our recent investigations into how information propagates, how people assimilate information, and how people form relationships to gain information in Internet-centric social settings. It includes key ideas related to the role of the nature of information items in information diffusion as well as the notion of receptivity on part of the receiver and how it affects information assimilation and opinion formation. It describes a system that incorporates availability, willingness, and knowledge in recommending friends to a person seeking advice from social network. It discusses whether having common interests makes it more likely for a pair of users to be friends and whether being friends influences the likelihood of having common interests, and quantifies the influence of various factors in an individual’s continued relationship with a social group. Finally, it gives current research directions related to privacy and social analytics.