You read it here first

MicroSoft’s Ray Ozzie announced Simple Sharing Extensions (SSE) last Monday´s morning, a “specification that extends RSS from unidirectional to bidirectional information flows.” And, wow, is Microsoft starting to get with it. They’ve released it under Creative Commons license, the same license that covers the RSS 2.0 specification. Anyone can remix, tweak, and build upon the specification even for commercial reasons.

See Ray Ozzie, Dave Winer and the FAQs.

For example, SSE could be used to share your work calendar with your spouse. If your calendar were published to an SSE feed, changes to your work calendar could be replicated to your spouse’s calendar, and vice versa. As a result, your spouse could see your work schedule and add new appointments, such as a parent-teacher meeting at the school, or a doctor’s appointment.

SSE allows you to replicate any set of independent items (for example, calendar entries, lists of contacts, list of favorites, blogrolls) using simple RSS semantics. If you can publish your data as an RSS feed, the simple addition of SSE will allow you to replicate your data to any other application that implements the SSE specification.

SSE can also be used to extend other formats such as OPML.

New companies will be built on the back of SSE. And you heard it from me first!