The Facebook dilemma: Sell or Wait? What would you do?

Decisions. Decisions.

It's the Silicon Valley dilemma. You're working for a company that's wildly popular, growing like crazy, not really bringing in any money but not dealing with financial pressures of Wall Street either. There's probably a fortune to be made in stock options when the company goes public - but there's no sign of that happening anytime soon. So, there you sit on a potential fortune that could probably help you fund the $100,000 down payment you need for that charming little Palo Alto bungalow - but no way to cash out just yet.

If you're a Facebook employee, it sounds like you may be able to get your hands on that chunk of change sooner rather than later. Word is spreading, thanks to a VentureBeat posting that's not being confirmed by Facebook, that the company will alow its employees to sell off up to 20 percent of their fully vested stock options based on an internal valuation of $4 billion. That figure is the company's internal estimate of its worth and is provided to the IRS. But who knows how the market will value the company when the time comes to go public. Could be a lot less. Or more.

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There's no details, obviously, so we don't know how the transactions would go down. (Silicon Alley Insider has come up with some of its own speculation, though.) The big question is: Do you cash out your 20 percent and head down to the Tesla dealership? Or do you sit tight and wait to see what will happen in the future? The IPO could be Google-like for all we know. Or it could also go down the path of VMWare, which started off strong and then slipped so much that the new CEO has announced a re-pricing of options for some employees.

Remember: Facebook has said that its goal remains growth over monetization. It's definitely growing. According to ComScore, Facebook pulled in 123.9 million unique visitors in May. By comparison, MySpace had 114.6 million visitors that month. Facebook recently launched versions in 18 different languages and is working on projects for the Enterprise.

So, tell me... What would you do?