When you scoop up some venture capital money, the first thing you should do is rent out a mansion in one of the wealthiest neighborhoods in Silicon Valley. Don't worry: after you move into Downton Valley, your investor will cheer you on!

Bebo was supposed to be a very, very big social network—so big, AOL paid $850 million for it back in 2005. Ha, ha, ha. That never happened. It's dead. But today, the site's founder says he's buying it back for 1/850th of the sale price, just for "fun." Fun! This is what's fun, now.