Five things that are wrong with this pro-business, peudo-science study such as this:

1. This study sounds more like an advertisement for Facebook than an actual scientific experiment.

2. An actual experiment such as this would take years of study. But, Facebook is not that old.
In the past, scientists studied happiness etc, by studying subject over decades (re: the harvard study)

3. Having 'friends', even 'Facebook friends' may be useful for a good life, not necessary for a 'long' life, which is dependant on many factors.

4. Facebook friends may not be the same as real-life friends, to who you can turn to in times of need.

5. What about the time people are 'wasting' on Facebook, obsessing over lost love, nurturing jealousies over friends' success and so on.

And lastly, couldn't big name universities like Yale and the  University of California have taken a longer view at this?