Social media is a great thing to keep in contact with people if you don't go out that much or don't like to go out and meet people in person (which is my case), or if you have friends far away (which is my case too, sadly) and is also a great tool to know more people with your interests and maybe even make some friends, or even your partner. The thing is you have to use your social networks wisely. For example, lots of people I know in real life had Ask.fm accounts and all they did was make their private life a public thing. And that's not the problem really, the problem is the people that started to bother them with things that they knew hurt them. It's sad that we can't say whatever we want about ourselves, let people online know us a bit more, without persons coming to us and trying to make us sad. That's the reason I think one should never make some aspects of their lifes a public thing. And some of the people I know in real life that had those things happen to them started hating technology (though they still use it so I don't really thing they do hate it as much as they say...) and they don't realize that it's not the social networks or the technology that's bat, it's the people there.
So basically my thoughts on social networks is that they are great if you know how to use them correctly. It's not bad to go on the Internet everyday as most people think. It's as bad as watching TV daily; not bad at all. It's just that there's so much information here, so many people, you have to know how to use the tools the Internet provides you to do good things and also avoid bad people. It's not as hard as it sounds, too. And well, for me -a person who hates interacting with people in person, and has hated it even after having Internet and social networks- is a great thing. I don't have to go out, I don't have to force myself to meet people, I don't have to go to classes crowded with people and feel so out of place and just so, so bad, I can take classes here, on the Internet.
I don't really get why anyone would think social networks and the Internet in general is a bad thing, because honestly, it made our life so much easier and pleasant to live.