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Why it is too late to regulate Facebook

I’ve seen a lot of angst over the past week about Facebook’s moves to open up your data to other applications. To really understand how huge these changes are I had to get away from Silicon Valley and come and hang out with the geeks in Kinneret, Israel where famous VC Yossi Vardi is throwing an exclusive camp for geeks and successful business innovators. To be sure, there is some fear and even a bit of hatred here of Facebook. Let’s detail that fear and hate: 1. Facebook has broken an invisible privacy contract with its users. Most of the geeks here say they expected Facebook to be about sharing photos, videos, and thoughts with friends and family. But now their previously private data is showing up on Yelp, Pandora, and Spotify. That wasn’t expected by the users, so has generated quite a bit of discussion here.