Saw a really interesting post on insidefacebook (a blog I may be reading more in the future) which features a tech talk given at Yahoo! by Facebook's Jeff Hammerbacher on Facebook’s approach to data and analytics. It's almost surprising that the analyst people within Facebook say "Don't collect data without a purpose." It's expensive and time/resource intensive, when it seems like everyone is 1)afraid that FB and Google are doing nothing but collecting data and 2) this is not for the good.
I think most of the insight is in the "Philosophy Slide" and when Jeff talks about that.
I wonder: does this mean that even if they could spy on us, it's just too resource intensive? I bet it won't be for long.