http://tags.gawker.com/assets/base/img/thumbs140x140/gawker.com.png http://gawker.com/tag/valleywag/joehewitt http://gawker.com/tag/valleywag/joehewitt At a recent party to celebrate developer Joe Hewitt's latest release of the Facebook application for the iPhone, friends treated Hewitt to champagne and a cake decorated with, naturally, an iPhone running Facebook. Of course, moments later, pictures of said cake showed up in partygoers' news feeds and were automagically displayed on their iPhones. And you doubted the power of technology to change the world for the better.

]]> http://gawker.com/index.php?op=postcommentfeed&postId=5034125&view=rss&microfeed=true Investors in Parakey, a hot startup founded by Firefox creators Blake Ross and Joe Hewitt, were paid in cash, not shares, when Facebook bought the company. While they doubled their money in the $4 million sale, the cash payout means they were shut out of Facebook's future growth, which has left some of them quietly grumbling. [TechCrunch]

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