HTML5, a great mobile internet catalyst?

You may have noticed some increasing attention on the internet about HTML5. You may also have read that companies like Google and Apple are adopting HTML5 with initiatives like a Mobile Google E-mail client written fully in HTML5, iAd in HTML5, or YouTube using HTML5 video. So what does it all mean, what can we do with HTML5, and more importantly: what does it mean for the Mobile Internet?
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