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1st step create tracking software.

2nd step

3rd step profit

"The Underpant Gnomes"[1] were honestly the very first thing that came to my mind when I read the name.

[1]: http://en.wikipedia.org/wiki/Gnomes_%28South_Park%29

Underpants could be a synonym for underwear, in which case it could make sense: you'd like to keep you fingerprint private on the web, and your underwear private in real life.

This is exactly how I took it.

"Caught with your pants down" is the best I could come up with

It got us to click to link, didn't it? :)

Yeah, but at what cost? I already have an unfavorable view of it - just based on the name (that's human nature) - going into it. In this case, the project isn't really all that clear on what it does - I need to do a bunch of stuff to see it's benefit. I'm busy, I've lost interest. See the problem?

That's just my point of view, of course, but how many others will share it? I'd wager a good number would.