Facebook: 500 Million Friends -- and 'a Few Enemies'

Facebook, the hugely popular and often controversial social networking service, is expected to announce this week that it has reached 500 million users. It's a momentous milestone for CEO Mark Zuckerberg's company, which just over six years ago was still a dorm-room project on a shoestring budget.

Judging by influence and reach, Facebook today is one of the most successful Internet startups in history, even if not the most profitable. But as the Silicon Valley mantra goes: First build an audience, then monetize it.

Thanks to a deft understanding of the "network effect," in which a service becomes more valuable as more people use it, Facebook has accomplished the first task. And with annual revenue nearing $1 billion, it's making progress on the second.

And the timing of Facebook's milestone couldn't be better for a forthcoming movie, The Social Network. That 500 millionth member will likely sign on just days after the release of the full-length trailer for the Aaron Sorkin-penned, David Fincher-directed film about the company's origins (see video below). The movie's tagline? "You don't get to 500 million friends without making a few enemies."

Time to "Celebrate Users"

Facebook has its own strategy for marking the occasion: It's launching a publicity campaign called "Facebook Stories," which is designed to highlight how the service has affected the lives of individuals, according to AllThingsD.

"As we anticipated our 500-million milestone, and we wanted to find a different way to announce and celebrate it," Facebook's Randi Zuckerberg (CEO Mark Zuckerberg's sister), told Kara Swisher. "In the past, it's been all about the numbers and milestones, and we realized we had never taken the opportunity to celebrate users."

"Facebook Stories" will be a collection of posts up to 420 words -- the status update word limit -- grouped around geography and themes like love, grief and natural disaster, Swisher reports. Facebook users can submit their stories here.

But remember, by doing so, you're granting Facebook "an irrevocable, perpetual, royalty-free, worldwide right and license (with right to sublicense) to use, distribute, reproduce, create derivate works of, perform and display Your Content, in whole or part, on or off the Facebook site for any purpose, commercial or otherwise without acknowledgment, consent or monetary or other compensation to you."

Facebook is no doubt keen for a dose of positive press after a rash of bad publicity earlier this year over its privacy policies. But the respite may be somewhat short-lived: Judging from The Social Network's theatrical trailer, the film doesn't portray company CEO Mark Zuckerberg in a particularly flattering light.

Obama Says Republicans Holding Unemployed Hostage to Politics

Obama Says Republicans Holding Unemployed Hostage to Politics

President Barack Obama is urging the U.S. Senate to act this week on extending benefits for 2.5 million unemployed Americans.  Mr. Obama says Americans without jobs are being held "hostage" by Senate Republicans who have blocked legislation to extend unemployment insurance that expired in June.

Three times in recent weeks, Republicans have used parliamentary tactics in the Senate to block the extension of benefits, angering the president at a time when he is trying to move this and other legislation through Congress before the congressional recess.

The White House has declared the unemployment bill an emergency measure, meaning it does not have to be offset by spending cuts in other areas of the federal budget.

Republicans have taken aim at that, as they continue to attack Mr. Obama on several fronts and challenge the White House over deficit spending and rising debt.

Addressing media in the White House Rose Garden, the president said Republicans who had for years supported policies that turned big surpluses into deficits had no place blocking aid for Americans desperately searching for work.

"It is time to stop holding workers laid off in this recession hostage to Washington politics," he said. "It is time to do what is right, not for the next election, but for the middle class."

Joining the president at the podium were three unemployed Americans - a former auto dealership parts manager, a former fitness center employee and a former real estate agent - whose government support has run out or is about to expire.

Mr. Obama said maneuvering by Senate Republicans to block extension of unemployment benefits demonstrates, what he called, a lack of faith in the American people.  He described as mis-guided the notion that emergency relief would discourage people from looking for jobs.

The president's appearance was a final opportunity to fire back at Republicans on the issue before an expected Tuesday vote in which majority Senate Democrats are expected to be able to break the Republican roadblock.

House of Representatives Republican leader John Boehner said Republicans support extending unemployment benefits by cutting spending elsewhere.  He accused Mr. Obama of offering "disingenuous attacks" rather than answers on job growth.

Later this week, Mr. Obama will be able to point to another legislative accomplishment when he signs sweeping financial-system regulatory reform legislation he has battled for since coming to office.

Financial reform, with the unemployment extension and another measure to provide small business tax benefits, are the three major legislative objectives the president and Democratic leaders agreed to focus on before the long summer recess.

The entire legislative schedule is even more compressed as lawmakers and the White House increasingly turn their focus to the November mid-term congressional elections.

President Obama will be hitting the road frequently to campaign for his party's candidates in a number of states important to Democrat's hope of retaining control of the House of Representatives and the U.S. Senate.

Fidel Castro Appears Again in Public, Warns of War

Fidel Castro Appears Again in Public, Warns of War

Cuban revolutionary leader Fidel Castro on Friday warned the nation's diplomats of the possibility of a nuclear war.  It was his fifth public appearance in 10 days.

Castro visited the Foreign Ministry in Havana and predicted that a nuclear war was at hand if the United States and Israel continue to push for sanctions against Iran over its nuclear programs.

He also predicted that the United States would attack North Korea.

The former president took questions for more than 90 minutes from the ambassador corps.

Castro disappeared from public view following emergency intestinal surgery in July 2006 and ceded power to his younger brother, now President Raul Castro.

It is unclear why the man who ruled Cuba for 49 years after taking power in a 1959 revolution has returned to public view.

Castro's other recent appearances include a meeting with workers at a science think tank and taking in a dolphin show at the national aquarium.