Here’s the latest action:

Young adults not embracing Twitter (yet) — The microblogging service has found an older audience than Facebook’s early users.

Google Local gives small businesses their own web dashboard — The dashboard, designed to lure businesses to claim their profiles on Local, will deliver something akin to Google Analytics.

Later-stage valuations tumble —
During the first quarter of 2009, the median valuation for a later-stage venture deal fell 43 percent compared to the same period last year, according to VentureSource.

Apple still delivering arbitrary App Store rejections —
The latest unbelievable story is recounted by the Electronic Frontier Foundation.

Question-and-answer startup Fluther is not happy with Jason Calacanis — Supposedly because Calacanis’ site Mahalo has been reposting questions from Fluther without attribution.

Prime View to acquire E Ink —
The $215 million deal will allow the display-maker to improve its ePaper products.

Kindle DX shipping on June 10 — This expensive, large screen Kindle has been described as a potential savior to the newspaper industry.

Can the Internet make a more open government? —
An Ohio State law professor says the process is turning out to be harder than anticipated.

MySpace experimenting with interactive ads —
The social networking site is working with SocialMedia.com.