You don't really see "folders" like on your computer. In "My Shows" you will see a list, for example:
Friends
Third Watch
Judging Amy.
If you click on "Friends" it will list all episodes you have recorded but not deleted. Tivo is different in that it will list each episode of Friends separately, each "Third Watch" separately, etc. Makes for a much longer list, especially if you record daily, syndicated shows and not just the weekly original broadcasts.
This is just one of several things that make me reluctant to switch to Tivo.