Facebook privacy is awful, but users don't care, security expert says

The situation is different for businesses, which must be concerned about privacy, he said.

Nevertheless, it wasn't all jeers for Facebook during this panel.

The company was also framed as an example of a business built from scratch, with one panelist noting the recent Golden Globe win for "The Social Network," a movie based on the life of Facebook chief Mark Zuckerberg.

The panelist asked what would have become of Facebook if Zuckerberg had to worry about compliance and wiretapping issues when he was inventing the site in his dorm room.

"What if Zuckerberg had to run Facebook by the [Federal Communications Commission]?" he said, as a warning about forcing new online companies to address issues such as government intercepts.