Facebook: waste of time or handy tool?

When Facebook first came out I was in high school. Since it was better than Nexopia, of course everyone had to get an account. Up until the last year or so, I wasted A LOT of time on Facebook doing pretty much nothing. Now, I really only use Facebook for keeping in touch with people who are living outside the city and planning events with my friends. The most useful feature Facebook offers is the event-planning tool. Due to everyone's busy schedule, it's handy to have a single place where everyone can go to learn about the latest excursion and RSVP. However, Facebook is mostly just a way to pass the time.