With the Hoot app, Facebook may actually serve a very useful purpose if you're a student or want to collaborate on group projects. In addition to hosting group video for up to eight participants and message threads on your topic, Hoot includes smart formatting for maths and science.
To get started, just install the app on Facebook and type in what you're working on. You can invite friends privately or announce your topic as a status message to get feedback or help on your homework from your network.
One of the coolest aspects of Hoot is the automatic formatting for calculus, chemistry, and more
Even if you're not a student, you could use Hoot to work on other types of projects and actually get work done -- on Facebook!