The computer history blog ASCII lays out the meaning of Facebook in the grand scheme of things:
Facebook is the third of what is probably a quartet (or quintet) of the destruction of the innocence of computing. First was viruses, second was malware, third is facebook. I suspect fourth will be related to control of networking itself, and fifth will be licensing of high level computer ability. But let’s not get ahead of ourselves.
Facebook is a living computer nightmare. Just as viruses took the advantages of sharing information on floppies and modems and revealed a devastating undercarriage to the whole process, making every computer transaction suspect… and just as spyware/malware took advantage of beautiful advances in computer strength and horsepower to turn your beloved machine of expression into a gatling gun of misery and assholery… Facebook now stands as taking over a decade and a half of the dream of the World Wide Web and turning it into a miserable IT cube farm of pseudo human interaction, a bastardized form of e-mail, of mailing lists, of photo albums, of friendship.



It seems when you get tired of one social networking site another appears. Google+ is the new answer for those of you who are tired of Facebook, or just enjoy creating new online profiles of yourself. Via 

In an attempt to reduce the amount of ‘free publicity’ given to social networks, such as Facebook and Twitter, the French have banned any mention of specific sites in their TV and radio broadcasts. One of the reasons for this ban is to allow a fair platform for smaller networking companies in the future. 
