Twitter should go public, but not in the sense people are saying, rather it should go into a form of democratic public ownership. Social media really should be socialized, not in the Soviet sense, but in a democratic and transparent sense because private ownership of social media clearly has a detrimental effect on human communication.
Twitter has admitted that it does not currently make money and it might never make a profit in the future. Anyone who invests in Twitter risks losing their entire investment. Although the idea of a micro-blog is very popular, there is no evidence that it will ever be able to make a profit as a company.