Social Networking, as a computer activity, is headed for a massive bust. Perhaps it will go parabolic like Silver.
Someday, in 6 months, or 7 years, internet based social networking will become widely know as "massive evil". Indeed, Google search activitiy based on "user profiles" will also be seen as very bad, and perhaps outlawed completly.
I could hand all the information necessary to you to form this opinion, but that would result in you never forming this opinion, and it is an important one. Therefore, I present only the premise, if you want the proof do your own independent thinking.
For now, it is party like it is 1999. Perhaps we should "cover our noses" and jump on this stinky bus.