If you haven't heard the news, after discovering that people don't shop for cars between status updates, pokes, likes, and virtual crop harvests. Given that is set to take place Friday, the timing for this news couldn't get much worse.

GM will still have a presence on the social network through its Facebook pages, but that activity doesn't contribute to Facebook's bottom line, according to . “We remain committed to an aggressive Facebook content strategy through all of our products and brands moving forward,” on its Facebook page.

But Facebook ads? No más. At least for now.

Facebook's direct financial hit from GM's ad break-up doesn't appear to be that big. The car company contributed about $10 million to Facebook's $3.7 billion in revenue for 2011, according to the Journal. But GM is more than just a blank check for advertising dollars; it's the company responsible for the Corvette, Camaro, Pontiac GTO, and Trans Am. It's an iconic company that makes iconic products and some critics are wondering whether GM's decision might inspire other companies to reassess their Facebook ad spending.

Facebook is closing in on one billion active users (about 14 percent of the world's population), but it seems no one's really sure if those all those eyeballs convert into value for advertisers. Common sense says they should. Budweiser tries to sell you beer during Monday Night Football, so why not try to sell you beer while you talk about on Facebook?