With sassy Harvard boys in hoodies brainstorming today’s trailer on YouTube with Justin Timberlake, is Facebook forever?

You know Facebook has earned its brand when the book becomes the movie and a former White House adviser is hired to protect FB interests. The founding “accidental billionaires” – as they’re dubbed in the 2009 book title – have changed the face of advertising, networking and how mega brands interact with consumers in just six short years.

So it only makes sense that users get to share even more personal details for the world.

Users can now submit personal use stories under various themes (such as finding love) by submitting content in a 420-character format. (Be sure to write tight.)

Those status updates can link to the user/submitter’s profile and other users can hit “like” to push up the most popular narratives submitted—also optimized for mobile devices.

Here’s what you agree to when you submit your story:

By submitting your content (including your name, story, location, blog, etc.) (“Your Content”) you hereby grant to Facebook, Inc. (“Facebook”) an irrevocable, perpetual, royalty-free, worldwide right and license (with right to sublicense) to use, distribute, reproduce, create derivate works of, perform and display Your Content, in whole or part, on or off the Facebook site for any purpose, commercial or otherwise without acknowledgment, consent or monetary or other compensation to you. You hereby represent and warrant that (1) Your Content is an original work created by you that is, to the best of your knowledge, factually accurate; (2) you have all the rights and consents in and to Your Content necessary to grant the above license; (3) Your Content does not violate any privacy, publicity or any other applicable laws or regulations; and (4) You will obtain permission from anyone you mention in your story. You understand and agree that Facebook may use any contact information provided on this form or contact information available on your Facebook profile to contact you about Your Content. You also agree that Facebook has no obligation to exercise or exploit the above license.

FB has had its privacy stumbles along the way.

The American Customer Satisfaction Index, a survey of about 70,000 consumers, gave Facebook 64 out of 100; well behind other information sites. Just 10 of the 233 companies scored 65 or lower.
Wikipedia scored 77; YouTube scored 73.

What’s interesting, according to the researchers, is that customers are OK with some of the stuff they don’t like on Facebook—like privacy issues.

But the government may not be. Just as innovators push the envelope, the government usually isn’t far behind, worrying, fretting and attempting to regulate. And the messy lawsuits also followed over ownership and contracts.

Still, Facebook is also one of the most closely watched Web companies by investors eager for a blockbuster initial public offering.

According to the Washington Post, the FB population is close to that of the United States, Japan and Germany combined. The site is now the biggest repository of vacation photos, electronic Rolodexes, and more personal stuff.

Seventy percent of FB users are outside the U.S.

One quarter of users update their pages with their smartphones.

For those of you who want popcorn with this story, Sony Pictures launches the movie in October.

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