wheel - 2:33 pm on Jan 3, 2011 (gmt 0)

Facebook has reportedly raised funds from Goldman Sachs and a Russian investor in a deal valuing the social networking site at $50bn

Classic bubble. The site is being valued at how much people will pay to invest in the company, not how much the company makes.

If they can figure out how to monetize the traffic to the extent that Google monetizes theirs, Facebook is worth an obscene amount. Until then, they ain't worth that much. It's pure speculation.