I have read here, that $\frac{1}{2}mv^2$ must not be applied on a photon ever.
If i want to calculate escape velocity $v_e$ i need to use $\frac{1}{2}mv^2$ because we say that kinetic energy (positive) must be same or larger than gravitational potential (which is negative) in order for an object to escape. It is done like this:
$$ \begin{split} W_k + W_p &= 0\\ \frac{1}{2}mv_e^2 + \left(-\frac{GMm}{r}\right) &= 0\\ v_e &= \sqrt{\frac{2GM}{r}} \end{split} $$
Than we say if there is a black hole inside certain radius we call Schwarzschield radius $r=R_{sch}$ not even light can escape because its escape velocity is smaller than needed to escape. At the border of the sphere with $R_{sch}$ light can barely escape, so it must hold that $c$ equals escape velocity $v_e$. So we write down the equation below and derive $R_{sch}$.
$$ \begin{split} c &= \sqrt{\frac{2GM}{R_{sch}}}\\ R_{sch} &= \frac{2GM}{c^2} \end{split} $$
This is a well known equation, but it is derived allso using $\frac{1}{2}mv^2$ for light (photons). This is in contradiction with 1st statement in this post. So is the last equation even valid???