Thursday, February 10, 2011

Snow jobs

You see last week when the jobs data was bad it was all the snow's fault. However, when this week's initial claims number came in better than expected (even though the nation was covered by a blizzard during the week in question) not one mention of snow. I guess everyone got jobs shoveling or plowing last week.

Cisco was the latest in a string of tech giants to disappoint this month (joining Apple and Intel), but like every other day people (and by people I mean the computerized traders) have come to realize that you can't fight the market and good news is great news and bad news is great news, so it's 1999 all over again and stocks are about to go green again.

Speaking of 1999, it must feel that way at Twitter. In December - roughly 2 months ago - they took additional funding that valued the company at $3.7 billion. Today's talk is that they are looking for $8-10 billion just 2 months later.

I'm not a twitter hater - I let my posts flow to twitter, but I don't bother monitoring it anymore - but the heavy users have been reporting that twitter spam continues to spiral out of control and the growth rate has clearly slowed dramatically. I'm sure "this time it's different", but Twitter feels like myspace all over again, in my opinion.


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