Spinning the Google-AOL deal: I have been somewhat perplexed by the motivations (beyond beating Yahoo or Microsoft) that led Google to invest $1 billion in AOL for a 5% stake. The “defensive” reasons didn’t hold water when considering the downside of grabbing hold of the AOL tar baby. John Battelle has a theory: It’s the chance for Google to participate in the spinning off of AOL. While this may, or may not, be correct (and let there be no mistake: I have no idea), it seems enough of a smoke screen to prevent Google shares from tanking on Monday.
