Here at PLuGHiTz Live! Radio, we have been forcing ourselves to keep pace with the ever growing and quickly changing world of Twitter. It's been a while so feel free to catch up on what's happened so far with Twitter Gets Another Cool $100 Million....Seriously? and Twitter Is Worth One Billion? Why?. Otherwise this is what has been going on since we last reported Twitter's exploits, or lack there of. Biz Stone and Evan Williams finally presented a business model at the South by Southwest interactive festival in March as promised.
Wait. What's that? I'm sorry, this just came in that in fact that didn't happen.
Shocking I know, but there must be some legitimate reason for them to let down their supporters and investors. Let's let Twitter co-founder Biz Stone give us his take, "We don't necessarily have to start making a lot of money right now." ...He might as well have just said something to the extent of...well the piles of investor capital we have generating interest so far exceeds any amount of revenue we could ever hope to generate within our lifetimes. Even if we could figure out a way to generate revenue besides from ads. We know those ways are out there, we just have to find them at some point whenever we feel like it, if ever. When asked again about when some sort of business model was going to be revealed he simply suggested that it would be "later this month" or "soon."
Seriously, why would investors and supporters of this so called "revolutionary" web service throw piles of money at a company with such a blatant disregard for moving forward and serving the interests of the investors and their company. Yes, I understand there is no need to unnecessarily rush but dragging your feet because you have a near unlimited safety cushion of capital and the fact that even if they screw up another media giant will certainly buy them out. This is not the mindset that might actually lead them to doing something revolutionary or worthwhile at some point. Why so many invest so much money and faith in them is beyond my understanding.