Facebook is a social media platform launched in 2004 by Mark Zuckerberg that allows users to create profiles, share photos and videos, and interact with friends. It has both advantages like facilitating communication, education, and entertainment, as well as disadvantages like privacy issues, fake profiles, and spreading of wrong information. While Facebook can be used positively for staying connected and learning, it also has negative impacts like wasting time and potential health issues from overuse. The presentation provides an overview of Facebook's history and features and suggests ways to use it safely.