It turns out the media elite aren't so different from a lot of less affluent people: They think Twitter is a great communications tool, but can't figure out how the online messaging service is going to make money.
The recurring doubts about Twitter's moneymaking potential cropped up again Wednesday as an exclusive media summit hosted by investment banker Allen & Co. got under way at the posh Sun Valley resort.
One of the first sessions focused on how to capitalize on digital media. Twitter quickly became a focal point of the discussion because it has emerged as one of the Internet's fastest-growing services this year.
But Twitter hasn't attempted to profit from its popularity yet, leaving everyone guessing about how the 3-year-old startup intends to pay its bills after it exhausts its $55 million venture capital.
The participants on the panel moderated by media writer Ken Auletta of The New Yorker magazine predicted Twitter Inc. will face major challenges when the San Francisco-based company finally tries to generate revenue. Reporters were barred from the session -- like all other meetings at the media summit -- but Auletta confirmed the tenor of the Twitter talk afterward.
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