140conf

http://twitter.com/fredwilson

Links are the currency of the internet. Currently the most dominant traffic source is Google.

In terms of passed links Google is remaining about the same, 1% growth per month.
Twitter and Facebook are growing at a fast pace, about 30% to 40% per month.
For the portfolio of sites that he manages 20% of traffic is coming through Twitter and Facebook. If the growth trends remain the same, traffic from Facebook and Twitter is going to surpass Google.

The way Google managed to monetize links coming out of search results, Twitter and Facebook potentially could come up with something similar.

Misconception: News media is not aboutt making money.

Being in news media is about the service to the community, not about making profits.
When he started publishing, he didn't think "lets make money", it was about getting documentation done for technologies that were coming up. There was a gap that he was trying to fill.

Some books written by a community even as early as late 80s.

The mid-90s he became a conference producer as there was a lack of attention given to community driven technologies (such as Perl) as they were not getting enough attention from the big media of Technology industry such as InfoWorld.

The point about Twitter is to see really how you can benefit the community you are a part of, not about getting the most followers and feeling that you have power.

"Create more value that you capture" O Rielly