We don’t intend to (nor do we like to) follow the daily news and the noise level associated with it. That said, occasionally something jumps out and deserves a quip, and Facebook’s reported US$50 billion valuation is one of these. As usual Andrew Ross Sorkin’s Dealbook at the New York Times has the best coverage, including a link to Felix Salmon’s post in his blog at Reuters and another to a surprisingly useful Mashable.com post – they tend to be rather superficial, but in this case the uses of cash seem dead on. Goldman’s deal is great: even if they eventually cash out at a lower valuation, the underwriting fees from the IPO will be astronomical. One gets the mental picture of Goldman’s private bankers calling FB’s key executives like crazy. Finally, Mail.ru – the russian investors formerly known as Digital Sky Technologies and pitching in a further US$ 50mm in this round – is shaping up to be a “Web 2.0/ Web 3.0” vehicle, albeit a potentially expensive one after its London listing late last year. One to track while Facebook doesn’t do the obvious IPO.