The Nation's Ari Melber: Facebook owns you

Ari Melber of The Nation explained Wednesday on MSNBC why the public offering of Facebook was estimated to be one of the biggest of all time.

"Why exactly is Facebook worth so much money? It's current revenues of a few billion dollars don't support this evaluation," he said. "But Facebook owns something that can make a lot more money down the road. It owns us."

"Now I don't mean that as a metaphor," Melber continued. "I mean the company's terms of use policy, the contract you have to click on when you sign up, gives the company the legal rights to the photos, the information and the data of its users."

"And because Facebook is so popular and easy to use, it has basically crowdsourced the largest, most valuable database known to man."

Facebook says it has over 845 million users, 483 million of which log in daily.

Watch video, courtesy of MSNBC, below:

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