Everyone loves Facebook, I mean can you think of a better way of staying in touch with people you never really wanted to know in the first place?
However, Facebook has lots of information about you (that you're entered yourself) that you might not want to share with everyone. I created this quick screencast about Facebook privacy settings for my day job, and thought it would make a great Scott Explains post too.
Why should you care about these privacy settings? Well, if you check out openbook, a service that allows you to search Facebook postings that are totally public (i.e. you don't need to be logged into Facebook to see them, nor do you need to be a person's friend) you can see that people are posting all sorts of things to Facebook without thinking about who will see them.
Taking a few moments to review your Facebook privacy settings is time well spent.