"The Facebook bubble has burst." - Inspired by Nicholas Carlson, Valleywag

Facebook shares seem to be on a downward spiral. Michael Arrington reports that Bill Dagley, Managing Director of Private Wealth Partners, "has been sending out feelers to venture capitalists and wealthy individuals who may be interested in buying stock from a Facebook shareholder at a value far less than $15 billion." Arrington's sources report that the asking price valued the network at only $3-$4 billion.

Additionally, The New York Times reports that last week, a document in the ConnectU case shed light on the fact that Facebook has valued itself as significantly less than the $15 billion figure it announced after Microsoft's $250 million investment last year.