Of course, Time Warner’s AOL has hired yet another Google veteran. That’s what the company does under the Tim Armstrong regime. Today’s example: Shashi Seth, the one-time “monetization” boss at YouTube, who was most recently running sales at Cooliris. His new job: Senior vice president of global advertising products, reporting to Armstrong’s lieutenant (and Google vet, natch) Jeff Levick.

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Don’t say they didn’t warn you: Last week, Yahoo formally rolled out its new $100 million-plus marketing campaign. Today, the TV ads begin. Here’s what you’ll be getting if you watch AMC, ESPN, USA, Comedy Central, Bravo or any of the broadcast networks in the U.S.

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Not included in the long list of investors betting $100 million on Twitter today: Union Square Ventures, one of the messaging service’s most prominent backers. What happened? Best guess: The $1 billion valuation priced the early investor out.

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More upbeat–but not too ecstatic–chatter about the state of the Internet advertising market this morning from Wall Street: Barclays Capital analyst Douglas Anmuth is raising his estimates for Google, citing “improving macro conditions [and] a stronger ad market.” Other online advertising bulls: Investors, who have been pushing up Google stock for months, and CEO Eric Schmidt, who has declared that the worst is over.

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There’s going to be a lot of buying and selling in the coming months, but here’s one deal that’s not happening: Contrary to market-moving rumors, Microsoft isn’t acquiring videogame giant Electronic Arts. Anyone else want to take a shot?

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Remember the good old days of the last Web boom, when start-ups sold to Google and Yahoo instead of going public? They’re back!

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More from the post-Q&A Q&A: Yahoo CEO Carol Bartz says major investors like Gordon Crawford support her, and that she’s in the market for medium-sized M&A. Here’s what she had to say.

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CEO Carol Bartz explains what Yahoo is getting for its $100 million ad campaign, its first global marketing effort, which was launched today in New York during Advertising Week.

Here’s the rundown of Bartz’s press conference on the branding blowout.

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Start-ups whose business plans are based on selling advertising are having a very hard time raising money. But start-ups that want to make money by helping other people sell advertising? That’s another story.

Today’s example: Rubicon Project, a Los Angeles-based advertising-optimization start-up, has raised a $9 million C round led by Peacock Equity, the joint venture co-owned by GE Capital and GE’s NBC Universal.

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Another month, another half-point: Microsoft’s search market share crept up again in August, according to the newest numbers from comScore. Since Steve Ballmer and company launched Bing at the end of May with a $100 million marketing push, they’ve moved from eight percent to 9.3 percent. So: If you’re Yahoo, and you’re about to kick off a Bing-sized marketing blitz of your own, do those numbers give you encouragement or pause?

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This isn’t the long-rumored round of mass layoffs, but AOL boss Tim Armstrong did let go of two executives today: COO Kim Partoll is out, as is John Kannapell, SVP of search and local media.

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Adam Carolla, the former CBS radio host who started a podcast once he lost his job, has figured out how to turn his talent and Internet audience into money. He’s going back to work for CBS.

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Google is about to flip the switch on its long-awaited Ad Exchange.

The search giant will reportedly open up its AdX service, which is supposed to bring together ad buyers and sellers the same way a stock market does, within the next two weeks. AdX isn’t a surprise, but it is a big deal.

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It’s a not-quite-annual tradition: Something unexpected (but perhaps not unplanned) happens at MTV’s Video Music Awards and the Internet can’t stop talking about it. But Viacom’s copyright lawsuit means that you’ll have work a bit if you want to see for yourself on YouTube.

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As Kara Swisher just reported, News Corp.’s MySpace has hired media consulting firm Media Link, along with Media Link President Wenda Harris Millard, to overhaul the social network’s sales group.

Here’s the complete internal memo from CEO Owen Van Natta, which describes Millard’s position as head of the ad sales group as an “interim” one, and announces that former sales boss Jeff Berman is out.

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