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My bet is on some video rental service. Maybe a partnership with Netflix?
Seems pretty reasonable. Although, probably not with Netflix. Not sure why Netflix would partner with anyone at this point. Hulu, possibly.

That, or something to do with Foursquare.

edit: Although giving the timing of the announcement--a day after Google released their social network--I wouldn't be surprised if it has something to do with mobile. Zuckerberg might be trying to return the proverbial middle finger.

Given the Facebook community's tendency to be irritated with change (if only for a week or so), anything that effects the status quo could be a catalyst for Google+ adoption.
Facebook needs to makes changes in steps, rather than make huge shifts. Not being able to find something immediately has the same effect as their page not loading. If it takes me 3 seconds to find the "events" button, that's the page loading 3 seconds slower... and more annoying, because it was intentional.
And now we enter the age of the "Social Wars"...