Facebook...the more public, public smoking area

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Do you think Facebook is going to blow up in anyone's face? I ask this because there are people either being fired or not hired based upon the simple fact that some people just cannot figure out that not EVERYone has to know EVERYthing about their life. Becuase it can be solved by the fact of setting profile to friends only. And even though I do not agree with companies "googling" potential employees....it is a fact and they do it. I was just wondering if other people can see how all this facebook stuff, tweeting, and reliance on technology can lead us down a slippery slope of lack of privacy. And hey I admit I love my computer, phone, etc.