Saul,
I have some Facebook stock and I am a weekly user. Interestingly both my mother and my mother-in-law use my Facebook login to keep up with the grandkids. They refuse to get their own accounts. My family is scattered to the four winds, the only way I know what my nieces and nephews are up to is via FB. It is fun to know.
That being said I do not like a lot of things FB does, and I really see a lot of fraud going on. I had someone steal my photos and open up a dummy account and starting “friending” my friends. I assume this was to steal their contacts for some nefarious purpose, but it clearly happens a lot. FB has easy to follow directions in the help section on how to deal with this.
Most users I know have a love/hate relationship with FB. They love keeping up with far flung friends and family. But Facebook makes makes people uneasy. It is clearly a sticky service, because people don’t like it but they still use it.
So I have some but not a large percentage of my portfolio. Like with Google “we” are the product. FB and Google and other free services sell access to us. Of course we are the product for TV as well, we are being sold to the advertisers.