While the "Internet of Things" deal with connecting anything to the Internet, the Internet of EVERYTHING deal with the things and the semantic connection among things that can make the world actionable in real-time. A simple example is the car theft example.
A car is connected to the Internet through its GPS sensor that reports its location, it has also semantic relations to a list of eligible drivers who are permitted to drive in this car, each of these persons is also connected to the Internet using his or her mobile phone, thus the Internet knows the person's location (disregard the privacy issue for this scenario!), so if the car is moving (inferred from the GPS change in location), and all the eligible drivers are not in the car - it means that the car is stolen, and it can then report to the police and have them track its location.
This scenario is based on - things, contexts of things, and processing events about things.. It is actually quite straightforward from technology point of view. I wonder if the "Internet of EVERYTHING" will survive the buzzword test of time...
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