Twitter Snags More Venture Capital

Twitter just got some more venture capital from a few sources and investors “to grow our resources and focus on the important tasks ahead.” That’s an extremely detailed model for growth, thanks.

So, I love Twitter and all, I really do, but I have to ask: what’s the business model exactly? Union Square Ventures, the primary investor, says the same thing they said about their investment in, “To be completely and totally honest, we don’t yet know.” They’re just going to focus on “making Twitter a better, more reliable and robust service” and hope that somewhere in there a sustainable business model (with a substantial return on investment) poofs into existence.

I wonder what it’s like to have enough extra capital that it seems perfectly logical to throw it (gladly) at a popular, business-model-free web start-up in hopes that they will someday turn into profitable a venture before all the (fickle) users leave for the next thing? 

It’s like the dot com bubble all over again.