In a pause from complaining about operating systems :) Dave Winer makes a super interesting point about advertising today. First, the usual caveats -- Microsoft is a client, Microsoft competes with Google.
Here's what Dave had to say, in reference to the advertising news from Facebook today, and the Google response:
But to no effect, longterm, because Facebook has the momentum and Google, try as hard as they want to stop it, will not be able to, any more than Alta Vista or Infoseek were able to stop Google once they figured out that their lunch was eaten. Google will be around for a long time, I'm not saying they will go away, but Facebook will be around too. And Google will have a hard time catching up to them.
The reason I'm in PR and not in the stockpicking business is because I've been saying for a while now that the Google market valuation is nuts, completely crackers. It's built on one thing and one thing only -- the appearance of momentum and inevitability (every time I type that word I hear Agent Smith say: That is the sound of inevitability). Crack that, the bottom falls out, and mark my words, the crack is appearing, and as Agent Smith discovered, inevitability often isn't.
Dave closes with this:
Long-term, however they both have problems because advertising is on its way to being obsolete. Facebook is just another step along the path. Advertising will get more and more targeted until it disappears, because perfectly targeted advertising is just information. And that's good! 
People have said that technology only becomes useful when it disappears, something I tend to agree with. I don't fully agree with Dave that perfectly targeted ads are just information, and see lots of ads in the future -- I just don't see them to the tune of $741 per share!