Microsoft Corp. (NASDAQ: MSFT) shares dropped 1.77%. OK, you can say it was just as much as the Nasdaq dropped, or you can also say that no one was really impressed with the software giant's new cashback on search service.

It is no secret Microsoft is trying to boost its internet division and gain search market share. After so often being accused of being a monopoly, I guess it's hard for it to see Google Inc. (NASDAQ: GOOG) now being accused of the same in the lucrative business of internet search. Well, Microsoft tried to acquire Yahoo! Inc. (NASDAQ: YHOO), No. 2 in search (although it is also losing market share to Google) but we all know that didn't work out all that well... at least not yet. I get the feeling we haven't heard the last on that subject yet.

To address its search insufficiencies, Microsoft Wednesday rolled out Live Search Cashback, a new service that pays consumers who buy selected items from participating retailers found through Microsoft's Live Search engine. Only a portion of the purchase price, of course, between 2-30% will be paid -- via check, direct deposit to a bank account or eBay Inc. (NASDAQ: EBAY)'s PayPal. So naturally, those wishing to use the service will need to sign up and provide Big Brother with even more personal information.

No one can tell me this doesn't smack of desperation. Is Microsoft really serious in thinking this could actually make a dent in its search business? The cash rebate might attract some people, but that doesn't mean they're going to change their search habits. If anything, they might still search on Google, then go to the Live engine and find what they want there. The rest of time, I bet, Live will not be in use! Of course, the higher the cashback, the more people it will attract, but doesn't that sound a little backward? How much can Microsoft spend on that? And couldn't Google at any time counter with a similar offer should it choose to?

I'm sorry, but this just doesn't sound like it would change anything in the reality of search today.

The big news today from eBay's analyst day was that Meg Whitman was promising: now, with even more revenue growth! Her presentation, and that of the other executives from eBay proper, PayPal and Skype, were really great. Evidently, either (a) you investors weren't watching or (b) without the analysts to tell you if it was good, you weren't ready to pull the trigger. After all, if a company talks to the analysts through market close, how can they affect the market? The stock was down a teeny bit, six cents, to $34.11, on a bit better-than-average volume.

Well. If you were online with me, you were armed with more info (you know, to toot my own horn, and all). I filled you in about eBay's view of their craigslist investment; how they planned to create synergies with Skype; how proud was the company of their 7% of worldwide long distance minutes; how PayPal will soon let you buy used books at your neighbor's yard sale with your mobile phone; and how $3 billion in cash was withdrawn from ATMs via PayPal debit cards. If I had to pick one thing I came away from those hours of watching Meg & team present (I mean, something substantial... I could go on forever about fashion choices but this isn't the style blog) it was that they really believe in their vision and they are fantastic at describing it. I was feeling a little scared off by the stock's rich price, but after listening to Meg, Bob, and the Skype and PayPal execs tell me about how they're going to change the world? Boy do I want to be along for the ride.