December 9, 2008 2:43 PM GMT
there are companies out there like Locle who provide a social networking app which integrates with Facebook and other social networking apps to plot your location and friends locations on a map. Google Latitude can also plot fiends on a Google Map so it will not be long before someone integrates this in to Facebook.
Having worked in LBS in the early 2000's there are loads of cool things you can do. For example I devised a service where you could compare the prices of bard coded items in a store with the same item online or in other stores local to where you were. It was not even that complex to use. Trouble was and remains how does an operator make money from this other than the simple bits and bytes model.