Hey there—you, the consumer. How would you like $1 off a Frappuccino, or a free Croissanwich, or just a meaningless virtual corporate-assigned "title?" You'd like it a lot. All we need is every bit of your personal information, free.
The NYT reports that the latest neato "app" that a savvy technology company is using to rape you for all of your valuable info which they will convert into money by selling it to hungry marketers who will use it to target you more effectively: "Loopt Star," a game on your cell phone that will transmit your real-time location to faceless, unknown corporate entities, who will do whatever they want with it. Don't ask questions, just play!
People will compete to earn "achievements" and become "boss" of certain locations, and Gap, Burger King and Universal Music plan to use Loopt Star to reward loyal customers.
That will probably get you so much ass, though.
[We don't understand Foursquare either. Sorry.]