This is the worst I have seen. In the past I have been proposed around 1000$ but this wins, hands down!
The world is getting crowded of last minute entrepreneurs...
http://nationaljobs.washingtonpost.com/a/all-jobs/list/q-fre...
http://www.youtube.com/watch?v=dQx_pJyyyxc
"Unpaid iPad Intern wanted to build a facebook killer."
Isn't that pretty much illegal anyhow? Unpaid interns are not supposed to actually create products.
Edit: It almost certainly is; part of the conditions for unpaid internships are that "the employer that provides the training derives no immediate advantage from the activities of the trainees, and on occasion the employer’s operations may actually be impeded", and this is clearly false in his case. In other words, that job posting is not only immoral, but illegal.