I’ve been spending a lot of time looking at local, mobile applications and how they fit into gaming and local commerce. Michael Arrington biopsied the social gaming economy and found it to be quite ill. Marginal advertisers (and I use even that term loosely) are filling these companies’ coffers with cash from shady lead-gen deals. In other news Facebook announced an updated advertising policy which, amongst other things, will allow them to target users based on the geotags of content that they post.