Web 2.0 software is enabling learners to collaborate, interact and share ideas in new ways that parallel the ethos of the open access movement in academia. The scholarly content is becoming more readily accessible, we need to ask if it is desirable to have the same openness with regards to personal information. This paper examines current theory, research and media articles concerning two popular social networking sites: Facebook and Myspace. The conclusion is that the purported educational value of such sites is too limited and the risks are too high to justify using the applications in an educational context.