"Places," Either from Google or Facebook, is About Local Advertising

Now that Google and Facebook both have launched initiatives called "Places" that add geo-location capabilities, it is safe to say both firms now recognize the potential for grabbing a share of the local advertising market.

Overall, small and medium-sized businesses with 100 or fewer employees spent $35 billion to $40 billion in all forms of local advertising in the U.S. in 2009, estimates BIA/Kelsey, a local-media advisory firm.

AdSense is one way businesses have tried to target local advertising, but there is nothing like "current location" in that regard.