Very interesting. At least from a standpoint that this type of knowledge-tracking network on a huge install base of mobile phones would give Mr. Stone another layer on top of the social network, perfect for twitter or Facebook acquisition if it actually catches on.
Personally, I'm tired of "sharing." I think the world is Over-Shared in the sharing economy of connecting and sharing and being knowledge share friends. Its just one more thing.
Of course, Jelly doesn't target me, or my "kind" - whatever we can agree that is. In fact, it doesn't seem to target anyone. Its agnostic nature is perfect for sitting back and waiting for traction on some sub-culture or demographic (SxSW in Austin for Twitter?).
On the surface, the idea seems pretty derivative and certainly not any true innovation. If my friends could answer faster than Google could, I'd ask my friends.
But the opportunity to build a social graph and a knowledge transfer model (along with the data mining therein) and sell it to the highest bidder is too much to pass up.
I'd say he's pretty smart, even though in my own opinion Jelly seems rather bland.