+1 to @felixsalmon
Felix Salmon is a voice of reason. His post today on Twitter's valuation is unlike anyone else's on the topic, because it actually employs a rhetorical device known as logic. Take, for example, this bit on why Andreessen Horowitz might buy $80mm of Twitter on the seconday market: "The idea here, I think, is that it’s hard to pick individual winners in this space, even if you’re convinced that the space itself is going to be extremely valuable. The last thing that Andreessen Horowitz wants, after making an enormous bet on social media, is to find that it isn’t invested in one of the handful of companies which will generate massive returns. And so it’s spreading its money around all the possible winners, trying to buy every ticket in the lottery."
Also, he has my new favorite blog tagline. "A slice of lime in the soda."