The High Price of Facebook: You pay for it with your privacy

If you don’t spend your days glued to tech blogs, you might not know about the latest trend among hipster techies: quitting Facebook. These folks, including a bunch of Google engineers, are bailing out because Facebook just changed its rules so that much of your personal profile information, including where you work, what music you like, and where you went to school, now gets made public by default. Some info is even shared with companies that are special partners of Facebook, like Yelp, Pandora, and Microsoft. And while there are ways to dial back on some of this by tinkering with your privacy settings, it’s tricky to figure out — intentionally so, according to cynics.The fear is that people are being lured into Facebook with the promise of a fun, free service, and don’t realize that they’re paying for it by giving up loads of personal information. Facebook then attempts to “monetize” one’s data by selling it to advertisers that want to send targeted messages.
http://www.newsweek.com/id/237993

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