Ssshhhh, the Winklevoss twins don't want you to know this: The uber-bros recently received $65 million from Facebook founder Mark Zuckerberg in a confidential settlement ending the lawsuit over who really, really started Facebook. But the Brothers Winklevoss aren't satisfied; they want the verdict overturned. Why, you ask? Probably because they were paid largely in Zuckerberg Bucks (a.k.a. Facebook stock). According to Valleywag:

ConnectU's settlement was issued in common shares. And an appraisal Facebook conducted to value the shares it issued to employees valued the company at $3.7 billion, or $8.88 a share — making the stock part of ConnectU's payment only worth $11 million, and the total $31 million.

Only $31 million? Oh, but it gets worse. From Valleywag:

An informal market for Facebook stock exists, though it's not publicly traded. Vulture investors are offering to buy shares for as little as $2.50 apiece. At that price, the company as a whole is worth $1.3 billion. That's less than Yahoo reportedly bid for the company in 2006.

With share price falling, what's a young Zuckerprince to do? After the jump, predictions for Facebook's grim future. Read the rest of this entry »

Remember the time Jacob and I said Facebook isn't actually destroying humanity, because people are intelligent and increasingly sophisticated at interpreting the internet? Well, a funny thing happens when you write a pro-Facebook editorial. First, you get a zillion friend requests from editors, bloggers, etc. You feel like you have to accept them because you just said Facebook is cool, so you'd be a total hypocrite if you didn't! But in your heart of hearts, you suspect people may not be quite as sophisticated as you hope; deep down, you know that "superpoke" and "business contact" are two concepts that ought never interact. Yes, our culture is evolving to keep up with the internet. But, um, we might not be all the way there, yet. We're kind of cyber cro-magnon.

After unlocking his left-leaning profile to a Fox News producer, Jacob wasn't allowed to go on the air. Then, a few days ago, this chick I had to email for my new job freaked when she saw "IvyGate" listed under "networks." She got internet-pissed at me and caused a minor hubbub. She wrote me this nutty email where she called me an un-American alien, which I would call racist, but I can't remember if I unlocked my pictures for her or not, so maybe she doesn't know I'm Asian. After the jump, Rachelle's email, including these sentences with regards to the Winklevoss twins:

In case you missed the memo, they are going to represent the United States, YOUR country, in Beijing this August. Your lack of support for our athletes and the Olympic spirit is a disgrace

Look, I love the Olympics as much as the next spandex junkie, but this chick needs to get a grip. It's an athletic competition featuring teenage girls ribbon-dancing on floor mats, not a war zone.

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Remember identical twins Tyler and Cameron Winklevoss, Harvard '04, the ones who claimed four years ago that Zuckerberg stole Facebook from their original site ConnectU?  Yeah, they're still desperately seeking justice in the form of cash and shares, with ongoing litigation regarding their settlement with Facebook and the value of the stock.  But lately it looks like these suckers are back in the news for another reason.

Only this time Zuckerberg definitely won't be stealing their thunder, or their gold.  The Winklevoss twins will be rowing as a pretty pair in this summer's Beijing Olympics.

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