Endocytosis in eukaryotic cells is characterized by the continuous and
regulated formation of prolific numbers of membrane vesicles at the p
lasma membrane. These vesicles come in several different varieties, ra
nging from the actin-dependent formation of phagosomes involved in par
ticle uptake, to smaller clathrin-coated vesicles responsible for the
internalization of extracellular fluid and receptor-bound ligands. In
general, each of these vesicle types results in the delivery of their
contents to lysosomes for degradation. The membrane components of endo
cytic vesicles, on the other hand, are subject to a series of highly c
omplex and iterative molecular sorting events resulting in their targe
ting to specific destinations. In recent years, much has been learned
about the function of the endocytic pathway and the mechanisms respons
ible for the molecular sorting of proteins and lipids. This review att
empts to integrate these new concepts with long-established views of e
ndocytosis to present a more coherent picture of how the endocytic pat
hway is organized and how the intracellular transport of internalized
membrane components is controlled. Of particular importance are emergi
ng concepts concerning the protein-based signals responsible for molec
ular sorting and the cytosolic complexes responsible for the decoding
of these signals.