1: the internet 2: any internet content that is an utter waste of one's time or potential productivity -- reminiscent of the 'boob tube' or 'junk food'; used with 'the'
Get off the junknet now and do some work!
I spent all morning on the junknet just checking status updates and watching funny animal videos.
Oh no! I forgot to feed the baby because I was on the junknet!