Wait...What?

This should make for some good paranoia for the headline skimmers. But before you slap on that foil hat and start flinging around the C word or gathering in the bunker, consider a few things.

• If you use Google Latitude, Twitter, Foursquare, GoWalla, Waze, Glympse, Find my iPhone, or Facebook you're already being tracked or sharing your location for fun and profit.

• It is being widely reported as "Your iPhone is tracking your every move!" Actually, if you look closely at the data in the tracking app it appears to be gathering your location relative to the nearest tower. Not quite as accurate as GPS but close enough. Your iPhone doesn't know you're picking your nose in the car.

• As per Apple's 32-page response to Congress last summer about this: The tracking info is collected once you enable Location tracking on your iPhone. So, if you turn on Location tracking…the phone tracks your location. How sinister.

• It is located on your machine. There is no evidence it goes to Apple, or anywhere else, from there. It is not encrypted and that could be an issue if your laptop is stolen by a developer. On the other hand that may have been deemed unnecessary since the file is where it is.

So, keep vigilant, its good to keep tabs on these companies, but let's not lose our heads. Most likely Apple has some plan that will make your device even cooler and therefore you will hand them more of your money. That's pretty much the mission statement.

In the meantime, if you're burying a hobo or going to see your mistress, don't bring the iPhone.

Pretty much a guarantee we will be addressing this with this week's show.