> a URL shortening service, i.e as far away from a real business as you can get,
Please define 'real business'. What does a company need to have to be a 'real' business? Users? Revenue? Profits? A product that at least some people are willing to pay money for?
I agree that bit.ly is a very simple concept, but I take issue with the disdain in your post - even URL shortening stops being straightforward once you expand from n = 1 to n = 10,000,000. And bit.ly does a lot more than 'just' that.
This reminds me of McCain's 'real America'. You may not like {NoVa, these kinds of startups} and you may think that they don't capture the 'true' spirit of {Virginia, business}, but at the end of the day, their {votes, dollars} count just as much as 'real' {America, business}.
You may not think Hilary's qualified to talk about the details of Yahoo's particular advertising model, but don't extend that into what's bordering on an ad-hominem attack against a very legitimate startup, as well as a key figure at said startup.