Facebook is building a phone unless they're not
The buzz all weekend was about a report in Tech Crunch that Facebook was secretly building a mobile phone (or rather building the software and contracting out the hardware). The report says they're doing this to get deeper integration between your Facebook friends list and your phone's contact list.
And while they may not be building a Facebook version of Google's flop, the Nexus One, they could still be working on something akin to a phone.
What they should really do is make the Facebook phone work in speakerphone mode only so you're forced to share everything with everyone.