In the past week, Facebook has developed a new way for you express your interests all across the web from sites like Pandora to ESPN to The NY Times. The social media giant did this through the introduction of a universal "Like" button that will revolutionize how Facebook gets to know more about your preferences. Gone are the fan pages that users could join.

Enter the new "Like" button that once Facebook users click on, will not only give those sites the ability to send users new material, but that action of liking gives the publisher a link on the users page as well as a means to later publish on their newsfeed. Facebook founder, Mark Zuckerberg uses the term "Open Graph" to describe this process of sharing web content with all your friends.

According to Zuckerberg, "We're building toward a web where the default is social. Every application and product will be redesigned from the ground up to use a person's real identity and friends." With this new Like feature, Zuckerberg states that Facebook will be able to tailor messages based on a user's Like history.

Over the next few weeks, users will being to notice Facebook Like buttons showing up all over the internet. Zuckerberg predicted that within 24 hours more than a billion "Like" buttons scattered all over the web. For instance, now on Pandora whenever a song from a certain band appears, the profile picture of one of your friends who also likes that band will be published directly next to it.

This is definitely significant in terms of targeting individuals. Facebook has taken the concept of behavioral targeting a step further and has now introduced a form of relationship targeting that will be going after users based on not only their likes and interests but their friends as well.

This has raised the concern of people like Senator Schumer who believe that new guidelines for privacy settings in social networks need to be put in place as a result. Zuckerberg argues that this new feature "shows no new information to anyone than was previously visible."