First of all, I should say I'm on facebook, I should also admit that I almost never update my wall, and I basically use it to stay in touch with school friend. I have found some interesting points of view about why one may prefer to stay away from Facebook.
…since the adoption of the Internet, it has become trivial for absolutely anybody to author absolutely anything. Written information is a basic commodity. This puts the power in the reader's hands, instead of the author's.
In short, the reader has the privilege of choosing what they will read, and whose written information they will consume.
Most people are not very good authors, and I'm sorry to say, most of the information disseminated via Facebook (that is not also available elsewhere) is simply not of interest to me.
Facebook does not provide such "convenient" services that they are worth the extremely high value of the data they wish to take from me in payment.
You may want to read the complete blog post