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1.
That depressed feeling one gets when he sees how great other people's lives are on Facebook compared to his. FD is typically prevalent in teens and adults in mid-life crises.
Shakira McMagnificent's status: Best partyyyy everrrr! Hanging out with my bestiesss all night long then with the boyy tomorrow!!!

Jane Doe (victim of Facebook Depression: *sobs quietly* why isn't my life as exciting as Shakira's?!?! WAAAAH
by BigCharles12 March 28, 2011
 
2.
the depressed mental outlook on the world in general caused by reading and participating in the false reality created by Facebook and its contributors.
I invited Karen to join us for the movie but she is so wrapped up in her Facebook depression after reading recent comments from her friends that she's barely talking to anyone.
by dp916 March 28, 2011