According to Read Write Web (say that five times fast) and AdAge, Facebook will begin to use your status updates, Places checkins, Page Likes, etc. in related ads.

So if you check into a Starbucks and say, “I love my Starbucks coffee”, Facebook can take that and put it in an ad next to your friends’ Walls:

Facebook is calling these “Sponsored Stories” instead of ads. Tomato, tomahto. They’re using your content directly in advertisements. Without your permission and without any way to opt-out.

As dire as that sounds, the upside is that said ads will only be shown to your Facebook friends, not strangers. The downside? No, you don’t get a kickback.

Upside #2: Facebook is still free. And until there’s a paid version (there won’t be) Zuckerberg and company will continue to use our late night rants, birthday wishes and favorite restaurants to make a lot of money.

What do you think? Are they crossing the line into Creepy Town? Are you outraged they’d take your likeness, content and location and turn it into an ad? Or are you happy to have what will hopefully be more relevant advertising? Sound off in the comments.

See the official Facebook video explanation of Sponsored Stories here.

Image courtesy of InsideFacebook.com.

Originally posted here.