Former comedian Dick Costolo will “step down” (Ha Ha) from his CEO perch at Twitter, a company that only recently started making money and hasn’t been making enough of it. His replacement is Jack Dorsey, former poet, and notorious monster and screwer of friends.

Twitter Inc.'s been spinning quite a turnaround story in the press lately. The microblogging service "has finally turned a corner," declares the cover of Bloomberg Businessweek. "It's a juggernaut," a company executive tells the magazine. But the hard numbers we've been provided paint a very different story.

Twitter's longtime CEO Ev Williams was pressured out of his job, his spin to the contrary notwithstanding, multiple sources have told Fortune, corroborating what we've been saying for nine months. But why?

Technology seemed especially relevant in 2010, what with The Social Network's blockbuster receipts and mass mania for Apple's iPad and iPhone 4. The newfound attention helped turned some techies into genuine stars — while lending others real worldwide infamy.

Billions of tweets have been sent since its last injection of capital. But Twitter has just announced it is getting another $200 million in funding, which puts the micro-blogging service at a $3.7 billion valuation.

Running Twitter Inc. sounds like any entrepreneur's dream: Cash flows freely. The press is smitten. Celebrity users abound. But CEO and co-founder Evan Williams is said to be on the verge of being ousted from his microblogging paradise.

Tyler Florence wants Frank Bruni destroyed; Dave Winer wants The Moment to unplug and Rod Corddry is sick of his family. The Twitterati were feeling destructive.

It's Google's presidency. We're just watching it. Six Google executives, including CEO Eric Schmidt and cofounder Larry Page, have donated $25,000 apiece to fund President Barack Obama's swearing-in party.

Eight months ago, we posted an excerpt from a video former Feedburner CEO Dick Costolo's made in which he explains life after being acquired by Google. A standup comedian, Costolo plays the sad clown in the video, explaining that at Google he's got a significant job title, though "you can't tell by the words in it." Now that Google has killed FeedBurner's ad network, its reason for being, it's time to post Costolo's entire video. Note that Mr. Team Player didn't use YouTube.

Book tours? So old media — or rather, not profitable enough for book publishers to conduct except for celebrity writers. Sarah Lacy, the author of Web 2.0 nonfiction chronicle Once You're Lucky, Twice You're Good, plans to defy that wisdom and go on a 10-city tour herself. She's already included her hometown of Memphis and the provincial burgs of Des Moines and Portland, and is asking for suggestions on the other cities — anywhere but New York, Los Angeles, and San Francisco. Our ideas:

FeedBurner founder and current Googler Dick Costolo used to be a stand-up comedian. Somebody isn't laughing.

Dick Costolo used to be CEO of FeedBurner, a Chicago startup which publishes RSS feeds for websites. But then FeedBurner got acquired by Google. Now Costolo's got a "significant title" at Google, though, as he explains in this you video, "you can't tell by the words in it." Even before FeedBurner, Costolo used to work the standup mic. Here's the best Woody Allen impression you've ever seen. Laugh it up, fellow Googlers, but remember, there's truth in jest. How does Costolo really feel about Google? He posted the video to his blog using Tumblr and Vimeo, not the Google-owned Blogger and YouTube.

While other startup founders have to stay home and, you know, work, these guys have the time and the spare $3,000 to spend hanging out at a zero-agenda conference in Hawaii. (For the record, we're jealous.) Spotted in Yahoo executive Bradley Horowitz's Flickr stream: Benchmark entrepreneur-in-waiting Nirav Tolia; "stepped-up" LinkedIn chairman Reid Hoffman; FeedBurner founder Dick Costolo, who's rolling in Googlebucks; Linden Lab CEO Philip Rosedale; Evan Williams from Twitter; Mashery's Oren Michels; and
Kevin Rose (and his new haircut) from Digg with Joshua Schachter from the Yahoo-owned Del.icio.us. One question: Is this really Meebo CEO Seth Sternberg? I don't recognize him looking so unnerdly. (Photo by: bradley23)