Wednesday, April 01, 2009

Tulip Time in the US.

Great post about Twitter from Incendia Media

"Take today for example, I read that Facebook and Twitter agreed on a $500 million dollar valuation. Now lets be clear here, that's FIVE HUNDRED MILLION DOLLARS! And how much money does Twitter make? NONE! Quote from Wikipedia:"

"About USD 57 million of Twitter is owned by venture capitalists. Williams raised about USD 22 million in venture capital. Twitter is backed by Union Square Ventures, Digital Garage, Spark Capital, and Bezos Expeditions (led by Jeff Bezos of Amazon). Institutional Venture Partners and Benchmark Capital backed Twitter in 2009, investing an additional USD 35 million.The Industry Standard has pointed to its lack of revenue as limiting its long-term viability. As of January 2009, the service sold no advertising and produced no revenue. On February 13, 2009, Twitter announced on their official blog that they closed a third round of funding in which they secured more than USD 35 million."

and even better news from Bloomberg.

"The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.

New pledges from the Fed, the Treasury Department and the Federal Deposit Insurance Corp. include $1 trillion for the Public-Private Investment Program, designed to help investors buy distressed loans and other assets from U.S. banks. The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation’s gross domestic product was $14.2 trillion in 2008."

Houston, We have a problem.
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