It's not only about where you are, it's also about where you are not at any given time.
I'm less concerned about burglary than I am about big business.
I wonder how long before we start hearing stories like "My health insurance just went up 300% - when I asked why, they said I visit bars on average twice a week, I eat out at higher than average rates at restaurants ranked on the high side of increasing heart risk, I routinely travel at walking pace through high-crime areas, and I've attended 13 events at which illegal drug use has been reported."
You might not see any movement in a house... but maybe there's a bouncer asleep in there after working all night.
Much better to see that the family announced they were spending the day at the beach.
It's your location + all the other public information I can potentially find out about you combined with your location. The combination of a lot of separate facts can, together, potentially make people open to risks that aren't immediately obvious.
For example consider what location from foursquare + sexual orientation from facebook + photo from twitter would give to the scum who gay bash. The combination of religion + location + face is another thing some folk wouldn't want to be public.
I hate to think what the National Front would have done with a "gays, muslims & jews near me" app...
If you actually step through what is happening when you use these apps (all the individual people you are informing of where you are and have been, your habits, preferences—a complete digital record) you might start to see some risks. Then ask yourself, even if it was easy, would you go round handing out that data on paper to large groups of contacts indiscriminately on a regular basis indefinitely? That’s what’s actually happening here. Now remember there are people (trolls) who get a kick out of being able to do things to do from a safe distance for no reason at all. There are also people closer to you who have fragile egos or maybe you were just in the wrong place at the wrong time. Using something like Foursquare is giving these people ammunition. The fantasy we like to believe is that everyone we know is trustworthy. The reality is not so rosy.