Foursquare Founder to Fall Foul of FTC?

Last Year the FTC revised guidelines governing the use of endorsements and testimonials in advertising. As you may recall, the big news then was the addition of a rule stating that bloggers who accept free merchandise or services from companies they write about must reveal the terms of that endorsement to their readers or be found in violation of the law. Apparently someone forgot to tell Foursquare founder Dennis Crowley about this.

As discussed at CNNmoney.com, Foursquare founder Dennis Crowley recently speculated at a panel hosted by NYU, that “the next big thing” will be online social networks creating algorithms that account and weight users’ recommendations which marketers will be able to use to reward the most influential users for mentioning them (ahem… paid posts).