Facebook looks like its worth close to $10 billion right now, based on actual transactions in the stock. The social networking site has seen its shares surge on an exchange for private companies, suggesting that the company is perceived to be headed in the right direction. Of course, private companies don't have to disclose all their dirty laundry, so assume that the current "market" value is based on only the rosiest of impressions. Some see this as a leading indicator of a Facebook IPO, which is bound to ignite unparalleled excitement.

There's room for a little common sense, though, and investors should take advantage of it. Facebook remains down 33% from its 2007 peak value of $15 billion, and the recent trading activity implies a value slightly below that defined by the latest investment in the company. It probably makes sense to keep the corks in the champagne bottles a little bit longer, but only because the vintage isn't quite right yet.

YouTube, the video-sharing unit of Google (GOOG) has launched a new product called YouTube Direct. Its purpose, according to the site, is to offer "a new tool that allows media organizations to request, review and rebroadcast YouTube clips directly from YouTube users."

The actual purpose of the Direct product is to help television outlets to get access to video collected by "citizen journalists." A local station in Cleveland, for example, could get clips of a fight at a Browns football game taken by someone siting in the stands.

The streets of Caracas are crammed with three times as many cars as they can handle. And why not? Gas is cheaper in Venezuela than anywhere else on Earth. The consequence, of course, is nasty traffic, made only worse by potholes, police checkpoints and other impediments to smooth vehicular movement.

The situation is one that apparently has no solution on the drawing board. Yet, that doesn't mean drivers must suffer without any relief at all. Thanks to social media tools, according to a Bloomberg News report, smartphone-toting drivers have been participating in an emerging answer to Venezuela's gridlock nightmare.

Google (GOOG), book authors and publishers had until midnight to provide a federal court with a plan to settle differences on how the search engine digitizes and charges for books. The group waited until the last minute to get its proposed settlement to the courthouse. The new agreement may address government concerns about Google's earlier settlement that gave it a virtual monopoly in the online digital book market.

Google, the Authors Guild and the Association of American Publishers, filed a new version of the methods that Google will use to create an online library. An earlier deal had been challenged for potential violations of copyright law and antitrust provisions. The entire agreement and its proposed benefits to all parties was posted on the Google website. The search company promoted that settlement by saying "Today we're delighted to announce that we've settled that lawsuit and will be working closely with these industry partners to bring even more of the world's books online. Together we'll accomplish far more than any of us could have individually, to the enduring benefit of authors, publishers, researchers and readers alike."

Do you think that your activity on the Web is protected and anonymous? If so, you might be surprised to learn that Google (GOOG) has a new feature that nicely analyzes all your searches for the last few years -- possibly coupled with details about the people in your address book and your online purchases. If you have a Google account, you can access the whole thing at Google Dashboard, according to The Boston Globe.

Since Google is committed to avoiding evil -- which as I posted, means protecting your privacy -- you have nothing to worry about from the Google engineers and advertising specialists who do have access to that information. And what a treasure trove Google Dashboard provides!