All your base are belong to us!
Facebook’s new TOS according to the Consumerist and Mashable states,
…all of the content you’ve ever uploaded on Facebook can be used, modified or even sublicensed by Facebook in every possible way – even if you quit the service.
You are solely responsible for the User Content that you Post on or through the Facebook Service. You hereby grant Facebook an irrevocable, perpetual, non-exclusive, transferable, fully paid, worldwide license (with the right to sublicense) to (a) use, copy, publish, stream, store, retain, publicly perform or display, transmit, scan, reformat, modify, edit, frame, translate, excerpt, adapt, create derivative works and distribute (through multiple tiers), any User Content you (i) Post on or in connection with the Facebook Service or the promotion thereof subject only to your privacy settings or (ii) enable a user to Post, including by offering a Share Link on your website and (b) to use your name, likeness and image for any purpose, including commercial or advertising, each of (a) and (b) on or in connection with the Facebook Service or the promotion thereof. You represent and warrant that you have all rights and permissions to grant the foregoing licenses.
So, all you soon-to-be-famous people who are busy publishing all of those great stories, shots and videos of yourself now, Facebook looks forward to selling them to the highest bidder when you hit the bigtime. Let me know how it works out for you.
UPDATE: Steve Knight has started a Facebook Group: “Facebook – Change Your TOS Back Now!“