If you spend most of your time on Facebook and you have a history of your friends and daily interactions for your entire time at college. This is valuable, you may not think about this now, but when you are 35 and are looking back, the value will be huge!
What happens if they shut down your account. All this information is lost.
I have talked a lot about my information online and how to preserve it, however I talk more about my vital business information that I don't want to lose. Until now I really haven't cared about the random information.
I have started using coComment to track all my commenting on blogs and forums around the Internet. It is a great tool that I use through my Firefox toolbar and it records all comments I place. It gives me access to this through their web interface.
So here is the application idea: Toolbar interface that would track everything I do. Of course with proper settings. It would take a copy of all files, images, comments, messages, emails, etc. and store that somewhere for historical purposes.
Of course everyone is going to scream privacy for something like this. So you have to ask yourself when does privacy outweigh preservation of my history and information.
Just a thought.....someone run with it.