How Much Are 140 Characters Really Worth?
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After yesterday's Initial Public Offering, Twitter is now one of the most highly valued companies on the New York Stock Exchange. What is it contributing to popular culture? When will it start making money? Also, October jobs numbers exceed expectations. On Today’s Talking Point, were the Washington Redskins named for a real Native American or an imposter?
Banner image: A New York Stock Exchange screen shows the results of theTwitter Inc. IPO in New York, November 7, 2013. Photo: Lucas Jackson/Reuters
October Jobs Numbers Exceed Expectations ()
The Labor Department's latest jobs report was delayed by the federal shutdown. But predictions that 16 days without government would sap the growth in employment turned out not to be true. Nelson Schwartz covers banking and finance for the New York Times.
How Much Are 140 Characters Really Worth? ()
Shares in Twitter were initially priced at $26 during yesterday's stock-market launch. They immediately jumped by 73% to $45 and today they're down in the low $40's — with market capitalization of about $25 billion. That's bigger than half the firms in Standard & Poor's 500 — even though the digital social network has never turned a profit. So where does the value come from for shareholders, for users and for a culture that lives in the present and has an ever-declining attention span? Advertising will be Twitter's means to make money. Could it make even more, with a board including minorities and women?
- Dennis Berman: Wall Street Journal, @dkberman
- Kevin Roose: New York magazine, @kevinroose
- Andrew Keen: entrepreneur and author, @ajkeen
- Vivek Wadhwa: Stanford University, @wadhwa
Today's Talking Point
Was Washington Redskins Namesake a Native American Imposter? ()
For 20 years, Native Americans and others have been trying to get the NFL's Washington Redskins to change the team's name. But the owner, Dan Snyder, says it's meant to honor the team's first coach, Lone Star Dietz, who claimed to belong to the Sioux Nation. President Obama has joined the debate over the name saying, if he were the owner and it offended "a sizeable group of people, he'd change it…even if it had a storied history." Well, it does have a storied history all right, but the story itself might not be true. Richard Lieby has covered it for the Washington Post, since it first became controversial.
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