Have you ingested your hypertension tablets, reader? Excellent! Now compose your mind in Zen-like detachment, divorced from logic or other unnatural condition.
Then consider in tranquillity a report in today’s Financial Times: “Twitter is set to secure a $1bn valuation from investors before it earns its first substantial revenues after the micro-blogging site raised $100m in new funding.”
According to “a person close to Twitter” [its PR man?], New York venture capital firm firm Insight Venture Partners is, apparently “leading a consortium of new and existing investors in the fast-growing communications network”.
Continues the FT in uncharacteristic ‘gee, gawsh’ mode: “The website allows more than 30 million members to post 140-character updates on the web or by mobile phone.
“I saw the best minds of my generation destroyed by madness, starving hysterical naked,dragging themselves through the negro streets at dawn looking for an angry fix,
angelheaded hipsters burning for the ancient heavenly connection to the starry dynamo in the machinery of the night.”
Among the ‘angelheaded hipsters’ apparently succumbing to dollar-dementia [reports the Wall Street Journal] is fund manager T Rowe Price, who has joined existing venture capital backers Spark Capital and Institutional Venture Partners in stumping-up for the new round.
As the seventh century Greek proverb predicted: ‘Those whom the gods would destroy, they first make mad.”