... If it's posted to "friends only" it's still public. Honestly, if you have a secret and tell it to your 100-200 or so "friends", is it reasonable to expect that no one else will hear it? No, there are only two levels: "private" (don't post) and public...
Actually, that's not true. I can make lists of friends, and have a list of friends whom I trust not to share my information, make nearly anything - posts, photos, profile information - visible only to people in that list.
Here's a screenshot of Facebook's privacy page, allowing me to control who sees anything in there: http://img686.imageshack.us/img686/5305/screenshot20100509at229.png
You can get that same menu to appear for each individual thing you post - so one of your photos or status messages can be visible to everyone ("Hey, guys, come buy my stuff!") while another is only visible to a friend ("Oh, fuck, I just realized my stuff is infected with a horrible disease!")
All the people complaining about privacy seem to be complaining solely about default settings, and they should just realize that when most people sign up for a site like Facebook, they want other people to see what they write. If they aren't the settings you want, just click on the settings menu and change them!
Take, for instance, TFA.
"Facebook sets the default for those messages to be published to the entire internet through direct funnels to the net’s top search engines. You can use a dropdown field to restrict your publishing, but it’s seemingly too hard for Facebook to actually remember that’s what you do."
If I send one message only visible to a group, I don't want all my future messages to all be only visible to that group, unless I remember to change it back. If he wants to change the default, there's an option here: http://img130.imageshack.us/img130/6425/screenshot20100509at245.png
"This includes your music preferences, employment information, reading preferences, schools, etc. All the things that make up your profile. They all must be public"
Actually, there are privacy settings here: http://img130.imageshack.us/img130/6425/screenshot20100509at245.png
"Now, you might not know it, but there is a Facebook page for “My Crazy Boss” and because your post had all the right words, your post now shows up on that page."
This is a ridiculous claim. I just made a status message saying 'Warzone 2100 is an awesome game' and it didn't appear on the Warzone 2100 page. I think he's referring to the "@" feature, where if I had typed "@Warzone 2100" it would've asked me if I wanted to tag the page (and if I ignored the prompt and kept typing, it would not have done so), but to call a secret code that you have to explicitly agree to 'all the right words' is ridiculously misleading.
Then there’s the new Facebook “Like” button littering the internet. It’s a great idea, in theory — but it’s completely tied to your Facebook account, and you have no control over how it is used. (No, you can’t like something and not have it be totally public.)
Yes, you can: http://img8.imageshack.us/img8/7281/screenshot20100509at254.png
I’d like to make my friend list private. Cannot.
Here's how: http://img217.imageshack.us/img217/2963/screenshot20100509at257.png
I’d like to have my profile visible only to my friends, not my boss. Cannot.
Here's how: http://img714.imageshack.us/img714/6889/screenshot20100509at258.png
I’d like to support an anti-abortion group without my mother or the world knowing. Cannot.
Here's how: http://img100.imageshack.us/img100/5049/screenshot20100509at259.png
All these options are available from within the Privacy Settings page. If you actually cared about privacy, just go and change them!