The news today was all about Microsoft considered an equity stake in Facebook. At the "rumored" valuation, facebook was placed in the $10 billion range.

Now I'm pretty confident to say it is impossible facebook's current income statement/balance sheet justifies a $10 billion valuation - in other words, big expectations are factored into that number.

This got me thinking: what features could facebook implement to generate more cash? (I know the possibilities are endless, but humor me).

Here are two of my favourite:

#1) Instant messaging software w/ contextual ads embedded. Many people already use the facebook wall/message system as an instant messenger - why not just make it official?

#2) A virtual currency / loyalty points system : I have a soft spot for loyalty point systems - they introduce a whole new form of corporate participation, such as sponsored events, "branded" merchandise or profile pages, etc...

What's your favourite facebook billion dollar addition?