Context man! He was speaking at a media conference filled with traditional media co's, such as The New Yorker, Viacom, and ESPN. It was even run by WSJ. To that

Context man! He was speaking at a media conference filled with traditional media co's, such as The New Yorker, Viacom, and ESPN. It was even run by WSJ. To that audience, his statement highlights the nuance of traffic referral vs. accumulating page views, which is why Twitter is potentially poised for greater monetization than a "traditional" media company. It feels unfair to pull that quote out of context. The point you are making is very different than the point that Costolo was making when he said it.