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In a talk with David Gergen (right), Google CEO Eric Schmidt set forth a local challenge. “Here in Cambridge, we have some of the smartest people in the world … If I can be critical for a sec: Why have you guys not produced the equivalent of Twitter, Facebook, Google, and so forth? I don’t know,” he said. “So there’s an action item for you.”

The next Google

Chairman Eric Schmidt examines the digital future of entrepreneurs and innovation

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"Many venture-backed companies, and obviously Twitter is no exception, don’t adhere to the traditional metrics that you’d look at," explained HBS Professor Josh Lerner in assessing Twitter's IPO plans. "Many of these companies may have revenues, but they don’t have profitability. As a result, you have to look toward the future and say: 'What’s the ultimate prospect for making money here, and how plausible is the business model?' "

#Twitterforsale

Social media giant will soon learn how much the stock market values the economy of 140 characters

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