The likes of Facebook and YouTube have shown that converting eyeballs into dollars isn't always easy, but Twitter, the wildly popular microblogging service, has taken the underwhelming Web 2.0 business model to a new level: it isn't just lacking a business model, it doesn't even want one. "At this point, given that we have plenty of money in the bank, it makes a lot more sense not to distract ourselves with trying to put the finishing touches on a revenue plan," says Twitter founder Biz Stone. Stone founded Twitter with Jack Dorsey and Evan Williams in 2006. Such proclamations don't …

The issue of network congestion isn't going away anytime soon, but the FCC recently made it clear that Comcast's P2P "delaying" technology wasn't an acceptable way to deal with the problem. So what's an ISP to do? In a blog post, Google's Vint Cerf (who happens to be one of the founding fathers of the Internet) offered up a new alternative: data transmission rate caps. Whereas billing by bandwidth usage (what Cerf calls a "volume cap") would curtail the use of Web 2.0 services like YouTube and Hulu, a rate cap allows users to freely access such services as …

BoomTown author Kara Swisher reports that prior to last Friday's shareholder meeting, Capital Research & Management recommended that Yahoo withhold votes from CEO Jerry Yang and various other board members, including Chairman Roy Bostock, to underscore shareholders' disappointment with the board's handling of the company. Now, Swisher says, the investment fund has asked an independent auditor, Broadridge Financial Solutions, to investigate whether those votes were correctly counted on behalf of its Capital Research Global Investors fund, which collectively owns about 16% of Yahoo. Even so, Swisher points out that Yang came away with 85.4% voting for him, while 79.5% supported …

Eweek talks to Eric Jackson, President of Ironfire Capital, one of Yahoo's biggest investors, who recalls the infamous "Peanut Butter Manifesto", written by former Yahoo exec Brad Garlinghouse in 2006, in assessing what's wrong with the Web giant. "Yahoo is too bloated right now," Jackson said in an interview following Friday's shareholder meeting. "They need to reduce head count, focus on core businesses and divest some of their holdings that aren't making any money." As Garlinghouse wrote, "I've heard our strategy described as spreading peanut butter across the myriad opportunities that continue to evolve in the online world. The result: …

Time Warner on Wednesday will separate AOL's dial-up access business from advertising and content, indicating that the media giant may be preparing to sell all of its parts, according to The Wall Street Journal. The company has been exploring the option of chopping up AOL and selling the pieces for months, but talks have hit a snag over how revenue and liabilities would be split between the content and advertising businesses. AOL has been pulling Time Warner's stock down since the infamous 2000 merger. Getting rid of the troubled Internet giant has been top of the list for CEO …

Ex-AOL CEO Jonathan Miller appeared to have all but locked-down a seat on Yahoo's board until Time Warner CEO Jeff Bewkes stepped in to thwart the plan. Miller's nomination, which had been the stated goal of both Yahoo CEO Jerry Yang and forcibly-appointed member Carl Icahn, is no longer a possibility, Bewkes revealed, due to a non-compete clause the former AOL CEO signed with Time Warner when the company forced him out in 2006. The non-compete renders Miller ineligible to work for an AOL competitor until March 2009. Even so, sources tell the New York Post that Yang …