+1 for right.
My son is a "friend" on Facebook with both me and mom. If I'm unfriended, the computer goes. If any random physical checks of the computer show any issues like second accounts, altered passwords, etc., the computer goes. If I ask to take a look at the computer and the answer is "no", for any reason, the computer goes. If he signs up for any other social sites without similar disclosure to me before joining, the computer goes.
Total transparency is the only way to be SORT OF reassured that my kid is fairly responsible with his online life.
In addition to the transparency issue, unbeknownst to him I have a couple TSR programs on his computer that are undetectable...a keystroke register, program register, site monitor, etc. They may be something that he could detect (I know teenagers are probably a lot smarter than us parents about this stuff), but they're not something he can disable or edit without immediate notification to my computer.
I know that some people may be thinking that this is a lot of preparation just to let a kid have an internet connection. I used to sort of think so, too. But last year there was an incident that could have been potentially VERY bad news - my son was picked on by a group of "friends" from another school, and being 15, didn't respond very intelligently - ended up making physical threats to another kid. In public. In writing. :facepalm:
The payoff - Mom and I were able to be on it like white on rice. It was only up for a few minutes, and nothing came up from it. But it was nice to have full disclosure of what was going on immediately.
As a side note, the computer didn't get taken away for that incident - the only time it gets permanently yanked would be if he tries to circumvent the system. I keep telling myself...2 more years, then he'll be an adult, out on his own, and he'll be responsible for himself. Hopefully, by that time he'll be in the habit of making good choices.