It seems like just yesterday (because it was) that Time Warner execs were talking about either selling AOL or merging it with another company. Today finds AOL, still undergoing its painful metamorphosis from broadband ISP to advertising giant, acquiring social networking startup Bebo for a cool $850 million. The former ISP is still bleeding millions of dial-up subscribers per month, and has struggled in the advertising game (3 major ad execs have quit over the last month). A billion dollar social networking experiment? Yeah, that'll fix it.