This semester, we are teaching a large undergraduate course (as well as an honors section) on “the legal and ethical environment of business.” Specifically, we are using the founding of Facebook–as depicted in the book “The Accidental Billionaires” and in the film “The Social Network”–to explore various areas of business law, including such areas as the law of contracts (think of Facebook’s “terms of use”), choice of business entity (think of Facebook’s evolution from a simple two-person partnership into a Florida limited liability company (LLC) before incorporating in the State of Delaware), and the ethics of Facebook’s privacy policies. Although we personally dislike and distrust social media generally (especially Facebook’s approach to privacy), we think that our focus on the founding of Facebook makes good sense for several reasons. After all, our target audience consists of undergraduates, most of whom use some form of social media to connect with the wider world, and moreover, it was a motley crew of college students who ended up creating one of the most successful Internet platforms in the world today (see below). Mark Zuckerberg literally changed the world, so why not learn from his success–and from his mistakes?