> Profitable companies aren't bad for shareholders
They are if the profits were greatly overestimated. Paying a billion for a dollar of profits isn't smart. Not to mention, Twitter isn't profitable. (They lose half a billion dollars a year.)
About a month ago I said I'd find Twitter a possibly reasonable buy at a third its current valuation [1]. To make that work, a lot would need to change. And Twitter's current investors would surely lose.
