What you need to know about the Facebook privacy vote (deadline is Monday)

After noon Pacific time Monday, Facebook will probably never again ask its customers about their privacy wishes. That’s because 300 million accounts (approximately 1/3 of all accounts) must cast a “we want to have input” vote by that deadline. Less than 1 million have done so to date.

Facebook set up the voting system in 2009 in response to customer complaints about ad hoc changes in privacy settings. And it lost a class action suit in California over sharing without permission.

Read on (Storify) to learn what’s at stake. Then vote to retain the current terms of service.