1. The $1 billion price tag on Instagram caught many people by surprise. Did Facebook pay too much for the online photo sharing site? Was Facebook responsible in its decision making?

2. As a shareholder in Facebook, how do you feel about Facebooks acquisition of Instagram? Has Facebook met its obligations to shareholders?

3. At the time of its acquisition of Instagram, Facebook was still a privately held company. Had it been a publically held organization, do you think Facebook would have paid the $1 billion asking price for Instagram?

4. What does your response to the question above tell you about corporate governance at Facebook?