That's some serious dosh to be turning down... It'll be interesting to see how much capitalisation the Twitter executives can start pulling out of the company and what directions it may start taking.
It's kind of nuts for company that currently is making a $100 million dollar loss and that has no real business model other than hope ppc and impression advertising is going to pay for everything at $10 billion.
Facebook had the same problem and is only just now turning a profit based on revenue from advertising, the question is whether it's sustainable long term. Many sites have been #1 for awhile then died off in the long run (see yahoo, aol, icq, myspace, bebo etc).
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