In a study conducted by Alan Mislove of Northeastern University and his colleagues at the Max Planck Institute for Software Systems, researchers tested an algorithm that could accurately infer the personal attributes of Facebook users by simply looking at their friend lists.Researchers developed an algorithm to see if they could accurately infer attributes like high school or college, department of study, hometown, graduation year and even dormitory by dissecting these users’ friend lists. The study cut to the core of the debate surrounding the social-networking site: Is your personal profile your own or, to paraphrase anti-Facebook crusader Leif Harmsen, is it the site’s profile about you?You are who you knowAccording to the study, only about 5 percent of users in each network had changed their privacy settings to make their friend list inaccessible. (To hide it, enter your Facebook profile, click on the edit icon above your friends and unclick the blue box marked “Show Friend List to everyone.”) In the New Orleans network, personal profiles remained largely accessible to researchers. Some 58 percent of users disclosed university attended, 42 percent disclosed employers, 35 percent disclosed interests and 19 percent gave the public access to their location.
Because of this information given, Mislove explained that it was relatively easy for his algorithm to accurately pinpoint attributes such as geography (dormitory or hometown) or education background (which high school or college users attend) for a specific user.
I can see the paranoids diving for their FB accounts now to cull their info and fine tune their privacy setup . Don't worry, it's already too late, as your info is securely and permanently stored on the servers .
To tell the truth, I have used FB as a way to find out various things about my friends. And I think others have done the same to me. I know MY profile has stuff that can be used to make a pretty accurate personality/background profile of who I am. And I have friends from all walks of life ...