People can produce different types of content. If we ignore videos, images and sound information, what we left with is very low amount of data per individual. Maybe this is why it's better to store images video etc. in some other place but the social netword of people ideas memes concepts beliefs etc. anything which can be formulated in language even in visual programming language can be still stored on a single small device. Everything left of you which is not video or audio, evrything which people can take to their reality in meningful manner to them, everything textual or can be converted into textual, is measured in megabytes. So social netweork chip that works slowly but very well suited for simulation of physical informative and textual transactions can still work well locally.