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Business model engineering has recently witnessed a turning point in the history of the Internet. It is a real-time Web, which is different from the Internet of yesterday. This real-time Web is characterized by a network of real-time human responses. This has significant implications for mobile business ecosystems. The author presents a three-stage view of the Internet business models that lead to the real-time Web business model engineering of today. The author highlights some consequences of this turning point of the Internet from the perspective of business model engineering. The author discusses the implications for mobile business model engineering from this staged transition.