Do you remember a few weeks back when Facebook was flooded with statuses claiming "copyrights" to users' content? While this hoax was quickly debunked, it left many concerned about what social media can -- and does -- do with the stuff we put online. This week, Instagram fueled the fire when it announced its new terms of use, which allows the company to sell users' photos and keep the profits. The announcement immediately drew opposition, and a day later, Instragram promised to "modify" some of the terms, which are expected  to take effect January 16th. Whether these modifications will win back lost users remains to be seen.

The Government was also concerned with policies regulating online activity this week. Yesterday, the FTC announced new online child privacy laws, which are designed to keep anonymous advertisers and marketers from collecting information about children based on cellphone usage.