Facebook for Business?

There's an ongoing discussion here at Alacra (and I'm sure elsewhere) about whether or not Facebook can become an important business tool, in some (or all) ways replacing and improving the value provided by LinkedIn.  Many of my A-List blogging pals - Pierre, Seth, Fred, Roger, Don and Barry are pretty enamored with Facebook from a social networking and venture capital perspective.  But I just don't get the hype, especially as a business tool - there are just too many distractions. The distractions are the kinds of things my 15 year old can be continuously amused by, but to me equate with watching TV (YouTube) in the office.   Jason has described this well in Facebook Bankruptcy.  Perhaps more to the point is Umair's post titled Is Facebook Friendster 2.0?  Certainly, it's nice to get invited as a friend and a highlight of today was hearing from Nate Richardson, who left Dow Jones a while back to become Country Director of the International Rescue Committee in Liberia.  So at this point Facebook is succeeding as entertainment (which can of course be very lucrative) but seems far off from serving a useful business purpose.