Facebook has a PageRank of its own for its News Feed

An Edge is one point, one update, one upload, on your social graph. Every time one of your friends does something, that creates an Edge. Some updates are weighted heavier: an uploaded photo is presumably the most important, while Likes are probably the lowest. The Edge also has more chance of appearing in your News Feed if it originates from a friend you interact with. God only knows how Facebook measures such interactions -- is a private message 'better' than replying to a status update? -- and I'm sure it'll be a long time (if ever) before we know how exactly EdgeRank works.
As a corollary, Tech Crunch talks about the concept of 'News Feed Optimization' (NFO), though there are scant few examples of it in practice. Like Search Engine Optimization, NFO tries to game the system: there's a lot of free advertising if a Facebook app can make it to the News Feed!












