Our next version will be a substantial revision from where we are now. It will reflect the principles I described around how people share and control their information, and it will be written clearly in language everyone can understand. Since this will be the governing document that we'll all live by, Facebook users will have a lot of input in crafting these terms.

It will take a little bit of time. We expect to complete this in the next few weeks. In the meantime, we've changed the terms back to what existed before the February 4th change, which was what most people asked us for and was the recommendation of the outside experts we consulted.

No doubt Zuckerberg and his legal team would rather avoid such a costly and time-consuming exercise. However, Facebook's audience size makes it worth the effort. The company, which plus one self-made billionaire in Zuckerberg, needs to keep the community happy while it searches for a business model that works.