10 Things You Need To Know This Morning

AOL CEO Tim Armstrong at NYSE

Good morning! Here’s the news:

  • AOL just delivered earnings which were better than expected. Ad revenues are still falling, but that’s expected.
  • There were some elections yesterday. The results had 1937 written all over them.
  • By the way, AOL has $700 million in cash to spend.
  • The Oval Office at the White House has a Foursquare mayor, and no it’s not Barack Obama.
  • Jason Calacanis is threatening to sue TechCrunch. He wants a part of the proceeds from the blog’s sale to AOL.
  • Facebook is holding a mobile event today. We’ll cover it live, until then here’s a preview of what to expect.
  • Andreessen Horowitz just raised $650 million for a new fund. They’re now managing $1 billion.
  • Meg Whitman and Carly Fiorina both lost their elections in California.
  • The New York Times has a good look at all the startups early Facebook employees are doing. Is this the next “PayPal Mafia”?
  • LG is going to release its tablet in the first quarter of 2011.

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