On: The "$15 Billion" Nonsense

Does this mean new engineers who join facebook will get stock options with a strike price reflecting the $15B valuation? Won't that make it harder to recruit people?

Yes. Which is why this deal might end up being much worse for the facebookers than they might think it is right now.

They've basically created a 2-tier employee system.

If they can legally do it, I'm sure they'll re-issue options to avoid that very problem. Not sure what the restrictions are for private companies.

On second thought, it might not be that simple... :)