Overnight Briefing & General Reality Check - Oct 4, 2013
October 4, 2013
Twitter finally went public yesterday, submitting its S-1 filing with the SECand giving the world its first glimpse of Twitter's finances and users. There's good news and bad.
The good news: The 140-character microblogging service that boasts over 200 million monthly active users is worth billions of dollars, and it's about to make some people very rich.
The bad news: You ain't one of 'em. Its co-founders and handful of major stockholders are all going to become very, very rich, in varying degrees. Outside investors will also score tens or hundreds of millions of dollars for themselves.
Now here's the funny part: Twitter has never been profitable. It's lost nearly $70 million so far this year. It currently has 215 million monthly active users --less than expected. Facebook has over a billion.
Most regular people won't look at any of this. They won't care. Yet, Twitter stock will move with zeal because it's TWITTER!, and Twitter is an exciting thing to talk about! It's new, young, expanding, and even though it's bleeding millions of dollars and reliant almost completely on fickle online advertising revenue, it will draw interest on its name alone. People will buy Twitter because it's Twitter. And it has to make money eventually, right? Right?
The IPO will raise $1 billion. It'll trade under the symbol TWTR. (Maiman)
Gossip Central: tabloids with Cory Myers:
Funny misquotes from "Duck Dynasty's" UNCLE SI in Us Weekly magazine:
--"A redneck walkin' into Bass Pro Shops gets more excited than a 12-year-old girl going to a Justin Beaver concert"
--"I'm the master of distractions. Do a couple of hand gentures and bam! I'll take the underwear clear off your butt"
--"I know every square inch of this place like I know the back of my ham"
Worst ratings of the TV season for a new show so far goes to (drum roll, please...) NBC's "Ironside," which is tied with ABC's "Lucky 7."
The show pulled in 6.8 million total viewers Wednesday night at 10 pm, but that was still more than ABC's "Nashville," which only had around six million. "Nashville," however, scored higher in the coveted 18-to-49-year-old category.
Survivor: real life:
A Minnesota carpenter accidentally shot a nail into his own heart --and survived.
58-year-old EUGENE RAKOW was building a deck for his neighbor when the tool became unruly. Rakow says, "I had the gun at an angle, chest level, and it jumped" ..."It impaled the nail in my chest." He says it actually didn't hurt that bad, but then he heard it "gurgle" and "crunch." His heart surgeon said if the nail had penetrated two millimeters further, Rakow would have died on the spot. (Still)
Health and Medical Briefs:
Researchers believe there's a link between walking and a woman's risk for breast cancer. A long-term study suggests past studies have shown women who are regularly physically active already have a 25-percent lower risk of developing breast cancer.
Writings in the journal Cancer Epidemiology, Biomarkers and Prevention say there's a study that shows students have at least seven hours of a week a day, and researchers who engage in at least seven hours of walking over the course of a week may reap a modest benefit. (Page)
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