The purpose of this study was to develop an understanding of adolescent use of instant messaging. Grounded in the New Literacy Studies stance that literacy is a social practice embedded in local contexts and informed by global ideologies (Street, 1995), I argue that participation in digital literacies such as instant messaging has implications for how wired youth are being prepared for participation in today's society. By using cultural historical activity theory and the activity system (Engestrom, 1987a; Engestrom & Middleton, 1996; University of Helsinki Center for Activity Theory and Developmental Work Research, n.d.) as the unit of analysis, I posit that instant messaging provides a space for participation in the roles of text producer, consumer, and distributor. Drawing on Gee's (2000a, 2000c, 2000d) descriptions of fast capitalism and shape-shifting portfolio people, I suggest that the 3 text roles contribute to the participant's portfolio or collection of attributes, achievements, and skills that can be rearranged to meet the demands of changing contexts.