Facebook Terms of Service Update

Facebook recently updated it's terms of service and included some rather interesting provisions.

From blog post:
http://consumerist.com/5150175/facebooks-new-terms-of-service-we-can-do-anything-we-want-with-your-content-forever

Facebook pretty much declared that they have a license to use any user-generated content forever. This changes from before where Facebook stated that the license granted to them would be revoked when the user deletes his/her content.

How far can Facebook go before people realize that posting their pictures and content to this platform might not be worth the opportunity cost? How far legally can Facebook go to state that they have this kind of license.

An interesting legal position Facebook may have to go through is if people who had an account before these provisions were made want to delete content. When they delete their content do they have the option to revoke the license? There should be a set reasonable amount of time for people to remove their account during these new terms of service change.

Facebook changed their terms of service yet failed to notify any users; however, once problems arose, decided to alert everyone that there was a problem and reverted their terms of service back.