This week, on Episode 226 of The Drill Down podcast, Devindra, Dwayne, and Andy talk about a controversial new lawsuit that pits Yahoo! against Facebook and a new suggested code for sharing content on the Internet.

But first, the headlines…iPad preorders are through the roof, Instagram teases an Android app, Gowalla shuts down, Microsoft tests a super-fast touchscreen, former Facebook director becomes Reddit CEO, CNN to purchase Mashable, Twitter buys Posterous, and the Encyclopedia Britannica stops publishing.