Privacy? Pshaw!

Panelists on social media said that the notion of full disclosure by adverisers on social networking sites is not that big an issue. "I think the privacy debate is overblown," says Arnie Gullov Singh, VP product management at Fox Interactive, "Because of all the studies we have done, all the users we have had in, all they seem to care about is having ads that are more relevant. I think that offering opt-out is important, because a group of people find it important. and from the perception standpoint you need to have it." He says social media has softened peoples' fears. " I think with social media it's been a watershed with data sharing. People are sharing so much data about themselves, the whole notion of privacy goes out the window."

Says Molly Hop of Critical Mass, "I am not in the teenage generation, but social media is not a journal you are keeping under the bed. you are putting information about yourselves online."

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