Well.. at least, it really feels like it. An overcrowded hotel lobby, a standing room (a Microsoftie complained that they paid $15K for the sponsorship plus $2K for the badge and they can't even get a seat!) and 2 overflow rooms. The "exclusive" Summit started with Facebook CEO, Mark Zuckerberg.

"We are not a media company [in comparison to MySpace]... [and the advertising deal with Microsoft is going] pretty good I think".

But nothing on the "other" Microsoft deal which might decide to take a minority investment on Facebook. According to a Microsoftie present:

"The potential Facebook investment would be a good thing as it would block anyone else to push us aside. If Facebook is successful than its great. If it isn't than we would have lost a small chunk of money, but we'll be better off than if we have bought the whole thing and realise that we we're wrong!".

That should be a fun conference to watch over the next 2 days!