You're right that yearbooks are not terribly useful on a day-to-day basis since it's static. However, I think Facebook's value comes from the organic nature of

You're right that yearbooks are not terribly useful on a day-to-day basis since it's static. However, I think Facebook's value comes from the organic nature of the site. You can update and craft your social graph to how you see yourself interacting with different groups of people at a given point in time. Of course your social graph will morph over time -- Facebook will hopefully make that as frictionless as possible. Facebook is a history of yearbooks.