Indeed, I would argue that what makes Twitter the company valuable is not Twitter the app or 140 characters or @names or anything else having to do with the product: rather, it’s the interest graph that is nearly priceless.

This is a really interesting way to look at Twitter as a business: based on who I follow, searches I do, etc., they know what topics I’m interested in and am willing to spend time on. I agree that this type of “interest” data should be incredibly valuable as it’s own product.