Fun fact: copyright laws weren't created to allow rich publishers "authors" to make money, neigher were they meant to prevent "theft". Rather, they were meant "to promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries." In other words, to encourage people to publish various works, which would allow society to use these works for the sake of progress.
That said, not allowing people to upload their favorite videos on Facebook is the opposite of encourage publication: it is a reinforcement of a system of heavy lock-and-key. Also, independent studies show that the optimal time for the expiration of copyrights, in relation to the goal of encouraging publication, is about 14 years. That's an amazing coincidence, since the original copyright laws in the US specified an expiration after 14 years. It would sure be nice if I could backup some of my 14+-year-old CDs and DVDs without a could of legal uncertainty hanging over my head.