Gosh, I love Twitter as a company and product... but its financials make me cringe. The adjusted EBITDA feels like a totally made up number by adjusting R&D an

Gosh, I love Twitter as a company and product... but its financials make me cringe. The adjusted EBITDA feels like a totally made up number by adjusting R&D and god knows what else... and I would like to be the judge of R&D, because that label is a black whole, and at $690m a year, this is no joke. Then, onto the important number: cash from operating activities is $82m in 2014. That means Twitter is trading +300x EV/OCF, with a rapidly decelerating top line growth. I want to cry.