Whoever is calling the shots over at instragram needs to be fired for not spending the hour or so of engineering time required to make instragram photos 'ephemeral' when the app first came out. It's basically an anti-feature. I knew I should have patented not saving data back in the day.
You clearly didn't read the article or the speech. If every word you ever said aloud was recorded, you'd probably speak differently than have you entire life. The whole point is that by making it ephemeral, in an age where nearly everything can be stored indefinitely and shared immediately, it becomes a mode of communication rather than a preserved expression.
It's interesting that you say "imagine growing up in a world where everything you say is recorded" because a key part of growing up for me was being taught that for a large part of my life, that could be the reality.
It's very interesting to try to live your life as if you were always being recorded. It forces you to be more truthful in the things you casually say, while simultaneously tempering your views so you can stay truthful when expressing your opinion. However, I've found it to be a largely worthwhile goal, since it forces a high degree of consistency between ones internal and external state, a feeling that is quite satisfying.