What is Facebook Really up to?

NEW YORK — Facebook said Friday it has raised $1 billion from non-U.S. investors, which combined with an infusion from Goldman Sachs and Russia's Digital Sky Technologies in December, brings the haul from its latest round of funding to $1.5 billion.

The investments value the social networking site at $50 billion, more than the current market values of Yahoo Inc. or eBay Inc., but below those of Amazon.com Inc. and Google Inc.

Facebook did not say Friday how it plans to spend the $1.5 billion.

Ok my question is this- How in the hell can they sell shares of something that really does not exist at all, I mean Facebook is not a tangible product that you can actually put your hands on and if people do not get accounts then there is nothing. 

The "Golden Boy" of so called Social Networking has indeed thought of a brilliant idea- Publicly calling Facebook Social Networking, but privately selling OUR lives, info and everything else we do. Facebook the biggest information database in the History OF mankind as we know it-