Sometime yesterday, Nikhil Karkera wrote:
Yes, lossy compression techniques do throw away data. In case of images, JPEG exploits the limitations of the human eye, and throws away data in such a manner so as to try make the loss of data as unnoticable as possible.
I think lossy compression applied to most of the web content (read junk, crap, "design") will make the world (wide web) a better place. :-)
Manish