I didn’t notice this flying by in November – probably too concerned with my 401K getting demolished:

You cofounded Twitter.com with venture-capital money back in 2006, and it still isn’t turning a profit. In November, the company declined Facebook’s offer to buy it for $500 million. Say what? We admire and respect Facebook. We are big fans, actually. They approached us, and we took it seriously. But we feel like we want to continue this path we’re on — sustaining this innovation — and the time is not right.

  Boston Globe interview with Biz Stone, founder of twitter.

I am voting for this as the #1 bonehead move by a tech company for 2008.

When exactly would be the right time to take $500 million for your company?  How many companies out there dream of this phone call from Facebook?

Note the article says the company has never been profitable and probably will not be for some period of time.

Further, most of the development has been funded by VC’s.  I’d like to know which VC’s.  They must have the worst lawyers/negotiating skills in the business.  How could they let this guy turn down that kind of payback?