It doesn’t seem all that long ago that MySpace was the place to be.

And if, per chance, you still believe that is the case, explain this headline: Facebook labelled a $5b waste of time. Facebook a $5 billion dollar waste of time? Why, getting regional leaders together is cheaper!

Richard Cullen of SurfControl, an internet filtering company, estimates the site may be costing Australian businesses $5 billion a year. “Our analysis shows that Facebook is the new, and costly, time-waster,” he said.

Facebook for the very few who have not indulged (and I’ve discovered all sorts of things about the crew at the local supermarket that I didn’t want to know…), is a cross between the (now) long passe Friendster and your favourite web 2.0 application.

Application is the operative word when it comes to Facebook. I’ve so far resisted the temptation to install any applications on my profile, but I know I’m missing out on half the fun.

I also know that’s why people are saying:

There are Facebook groups dedicated to slacking off at work.

As well as this pearler:

Some of them are specific to employees of a single company.

What’s the real issue though? Is Facebook really a “new, and costly, time-waster”, or is the work that some people do that mind numbingly boring, that they’d rather be cranking up Facebook applications?

Or is it that some people simply have no internet access at home, as was the case with one Facebook member?

“Of course everyone checks Facebook at work, duh! I don’t have neither internet nor a TV at home because I like doing more useful things with my time when I’m off work.”

Better things to do than watch TV? Love it!

But I wonder if it’s as big a deal as some are making it out to be? Is Facebook really responsible for a decline in workplace productivity? Richard Cullen’s words were “Facebook is the new, and costly, time-waster”.

Suggesting there was something before Facebook. So where do I begin? Personal phone conversations, gossiping with co workers over the cubicle wall, two (plus) hour lunches, or in the case of our parent’s generation, two (plus) hour morning or afternoon tea breaks!

If there’s a way to get out doing any work, people are sure to find it…