> It would be better to try to find a buyer at the current price

It would be even better to find a buyer at ten times the current price! Unfortunately, reality isn't so pliant.

Twitter had, as of the end of 2016, $3.8bn of cash and short-term investments on their balance sheet [1]. They also have $500MM of current liabilities and $1.6bn of long-term debt. This leaves $1.7bn of "free" cash.

Excluding financing activities, Twitter's operations and investments have lost about $450MM a year for the past three years ($1.0bn in 2014, $520MM in 2015 and a net gain of $165MM in 2016). So we're talking a few years until Twitter's face meets dirt.

It's a better bet to wait than lock yourself into an unsustainable valuation.

[1] https://www.google.com/finance?q=NYSE%3ATWTR&fstype=ii&ei=UO...

Finding a new buyer does nothing to turn the business into a profitable enterprise. They need to cut costs.

That's just begging the question.

OK, so you've found a buyer; what's the buyer to do to turn Twitter around?

Not answering the question, I'm just saying his solution ends up at a valuation at 50% of current, which isn't really a turn around.

Perhaps the current valuation is too high given the lack of profit.