What does privacy mean to students of the Net Generation?

I have been doing some reading online and have wondered what the definition of privacy is for students who have always grown up with access to the Internet. I know for myself that growing up with little access to computers early on meant we understood what it was to have some boundaries about information about ourselves and others. Students seem to have no problems opening up their lives to complete strangers via the web. Have we become too conservative ourselves or should we be learning from their example?