I want to own TWTR so badly, but then shit like this happens and I second guess myself. To sell such a sizeable stake at these levels makes me think he has a serious lack of confidence.
Even if TWTR is a niche product for certain sub-groups of professions and hobbies it could still be tremendously valuable. For finance/stocks/current events, it is a hands down winner. Undoubtedly the brand is powerful and here to stay.
Management just needs to get their act together and develop a more focused monetization strategy. At a $17B valuation, TWTR is a steal compared to FB at >$300B. On a price/sales basis: 9x/19x