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I've seen plenty of overreactions over terms of use changes in the past, so I was a little skeptical of the criticism of Instagram. Until I actually read Instagram's new post-Facebook-acquisition terms of use for myself. Some excerpts from my article:

Under the new policy, Facebook claims the perpetual right to license all public Instagram photos to companies or any other organization, including for advertising purposes, which would effectively transform the Web site into the world's largest stock photo agency...
If Instagram users continue to upload photos after January 16, 2013, and subsequently delete their account after the deadline, they may have granted Facebook an irrevocable right to sell those images in perpetuity. There's no obvious language that says deleting an account terminates Facebook's rights... Google's policy, by contrast, is far narrower and does not permit the company to sell photographs uploaded through Picasa or Google+. Its policy generally tracks the soon-to-be-replaced Instagram policy by saying: "The rights you grant in this license are for the limited purpose of operating, promoting, and improving our services." Yahoo's policies service for Flickr are similar, saying the company can use the images "solely for the purpose for which such content was submitted or made available."
Claire Broadley's profile photoDan Shield's profile photoMilana Homsi McCullagh's profile photoCaleb M's profile photo
Hmm if true this is bad... Very bad. 
If I don't want facebook to sell my photos what should I do ? delete my account before january 16 ?
People are surprised?  Facebook already claimed this right for photos uploaded to FB for quite some time now, it was only a matter of time until they did the same thing to Instagram.
+Celine Bursztein You could make your photos private or delete your Instagram account entirely. Unfortunately the only way to opt-out (for photos posted publicly, at least) is to leave Instagram.
The question is ... 'Is this Instagram nazi approach to total evisceration of the copyright and intellectual property laws, going to be applied with the same callous intent  ON  Facebook?'. 

Facebook is not quite this nazi about 'use' of members uploaded images.  At least I hope not. 

Did I miss something..important? 

BTW, I've read the legal stuff and kept up with the most recent changes. But, hey, I do miss things...
Im delegating my acct now.
So sad that something fun has taken this turn. 
Sorry, morons at Instagram. The problem isn't that we couldn't read. The problem is that we could.
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