[T]he impending public offering by Facebook will…be the largest IPO of any tech company in history…But what are investors investing in when they invest in Facebook?...Because of its size and reach Facebook is also a standard-setter. The policies it adopts will likely become the global norm…potential investors should also be asking, in the area of privacy and free expression, what is the Facebook standard?...Facebook’s privacy policies create risks for all its users, but especially those in closed societies where the loss of control over information can lead to persecution — or worse. While many activists depend on social networks to organize, repressive regimes are also becoming adept at using the same networks to identify “enemies of the state.”…Facebook’s IPO is likely to intensify the scrutiny of its approach to human rights. Bringing on new investors will increase pressure on Facebook to expand into China and other countries hostile to privacy and free expression. [also refers to Baidu]