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Foursquare seems like a really cool and fun idea, though I don't really ever see myself partaking in it, or at least actually keeping up with it if I did. It seems like it would take the spontaneity and pleasant surprise out of just running into friends, that's a part of life.

Another part of life is parenting and childhood. I personally see those two things experiencing drastic, negative changes if serious surveillance technology were to be involved. A part of life is sneaking around and doing things you're not supposed to and dealing with the guilt of lying to your parents. Sometimes they find out, sometimes they don't, but either way is a learning experience.
I think there's a difference in using it in children who are incredibly young and incapable of knowing the dangers of the outside world yet. If a four year old walks away from Mom and a stranger offers them some sort of comfort, their innocent little minds can't help but trust this person with nothing less than their life. But as a child grows older, they learn that there are those that they can't trust and that there are some parts of the world that are extremely dangerous. It's when they are aware of such things that parents should cease surveillance of their children (had they started) and begin letting the child go into the world more and more over time.
I would only agree to implanting a microchip that gave me constant biofeedback in my child if my child had some sort of chronic syndrome or disease that is hard to detect when life threatening symptoms are occurring. I no doubt see the benefits, but the benefits take out the experience of parenthood. I can picture some parents getting lazy and using the chip as an excuse not to comfort their children when they have a simple stomach ache. Ideal parents would comfort regardless, but that's now when things like that are more a convenient luxury, but as the technology becomes more normal, parents would get more lazy and dependent upon that.