The consumer value of a social-status service like Twitter resembles the value of "news" as a service. It is incidentally important, but not always important, and never all important to any one person. The intervals between incidents that you or I might deem important defy any prediction.
Does that mean we in local media should hope Twitter finds a great business model to capitalize on its traffic, since it so resembles ours? Hmm. Maybe. I find it easier (though not completely easy) to connect those dots than the ones between us and, say, Google, Amazon, Microsoft, Apple or eBay.
The funny thing about growth curves
Jay Small has a smart take on the similarity of Twitter's audience retention woes and those of local news sites: