It's not really correct to say "Wall St loses its shit." I think it's more correct to say that the extremely high valuations to start with are predicated on th

It's not really correct to say "Wall St loses its shit." I think it's more correct to say that the extremely high valuations to start with are predicated on the idea that these companies can expand well beyond their initial niche. They're all hoping to be like Facebook, who went from college kids to the whole world. When it starts to become apparent that this won't happen, valuations come down to reflect a niche product. You may say that Twitter has been beaten with a bat by Wall St, but they are still worth 12 billion dollars. Someone hit me with that bat.