For connecting more than half a billion people and mapping the social relations among them; for creating a new system of exchanging information; and for changing how we all live our lives, Mark Elliot Zuckerberg is TIME’s 2010 Person of the Year.

The main article has some interesting statistics that speak volumes for this year’s decision:

One out of every dozen people on the planet has a Facebook account. They speak 75 languages and collectively lavish more than 700 billion minutes on Facebook every month. Last month the site accounted for 1 out of 4 American page views. Its membership is currently growing at a rate of about 700,000 people a day.

That a tool such as this not only exists, but is useful to boot should be a source of concern for Facebook.

Open sourced by Facebook back in 2008.

I honestly thought someone had hacked into Calacanis’ blog to post a joke entry.

Apparently, Facebook is rolling out its own URL shortener. Smart move.

Much improved. The team has posted a video detailing how to use the new features.