Twitter is NOT worth $1 Billion

I have to comment on the latest story that Twitter is being valued at $1 billion dollars this is valuation after they received $50 million of funding.

This makes me bonkers. Does know one remember the dot com boom and subsequent bust????

Twitter has yet to figure out they are going to make money. Paid advertising, please. Sure there base is growing in leaps and bounds but that could not possibly justify the $1 billion valuation.

I just want to scream. Google or some other company will end up buying them for some ridiclous amount of money and the founders will be wealthy beyond their dreams for a company that is not worth just so they don't have to deal with them anymore.

What I would like to really know is what it is that the venture capitalists see that I don't.