I don't get it, if they are in your biking group, why would you want to not share something with them just because they happen to be in the work group too?
I have a set of close friends that I share just about everything with. It's a somewhat large size. Some of them I am in fantasy sports leagues with, some of them are techie types, some of them are fans of the same sports teams I am. I don't necessarily want to flood the stream of people that I know aren't interested.
There's many cases where individual circles of friends have a intersections or just don't fully mesh. It'll be interesting to see how this proceeds. UI/UX is going to dictate how successful circles are.