Questions to be discussed in the report: 1. How does Facebook make money? What are the value drivers of its business? What is its comparative advantage relative to other social networking companies? 2. Why is Facebook going public? What is the planned use of proceeds from the offering? 3. What was going on in the U.S. IPO markets prior to Facebook’s offering? What has been the performance of recent IPOs? 4. What is the intrinsic value of a Facebook share? How does this valuation compare to the price talk from the underwriters? 5. As a potential shareholder, what are your concerns about Facebook or its stock offering? 6. What is your recommendation for the CXTechnology Fund?