…too much cash, no $@#!ing clue.

What could you do with the $1-1.6 billion they have earmarked for Facebook or Bebo or the next hot SNS?

Steps 1-5:

• Fix Yahoo! 360 so it doesn’t suck (or just start over): $25 million (I’m being very generous with figures here)
• Pay the top 100,000 MySpace/Facebook/Bebo/etc. users $1,000 each to hang on the new and improved Yahoo! 360. (total: $100 million)
• Pay each of those users $10 for each new friend they bring over, up to 90 million friends: $900 million.
• Massive marketing/PR for general promotion and to handle all the bribery bad press: $200 million
• Charitable donations, just for the heck of it: $375 million

Step 6: ???

Step 7: Profit

Grand total spent: $1.6 billion, give or take several hundred million dollars on tactical variations.