Marissa and Tim's drinks: Your guesses!

After avoiding photographers all week at the Allen & Co. conference in Idaho, Yahoo CEO Mariss Mayer was spotted at a bar late Thursday. Perhaps more surprising was her drinking buddy: AOL CEO Tim Armstrong.

What could they possibly have been talking about? A long-rumored merger? The pitfalls of running an Internet portal? The weather?

Hard to say for sure, but Twitter certainly had fun trying to guess:

—With reporting from CNBC's John Jannarone