When Your Twitter Account Becomes Your 401K

All journalists, social media rockstars and PR gurus take note: Your Twitter account is apparently far more valuable than you thought.

As the New York Times reported this weekend, Noah Kravitz quit his job at Phonedog after spending four years at the site, a combination blog and ecommerce site.

While working at the site Mr. Kravitz built up 17,000 followers for the handle Phonedog_Noah. He parted with the company amicably and transferred those followers to a new handle, NoahKravitz, with the agreement that he would tweet on behalf of Phonedog.

But eight months later things soured, when Phonedog decided to sue, asking for $2.50 in damages per follower per month. 17,000 followers for eight months worked out to a hefty $340,000.  Read More When Your Twitter Account Becomes Your 401K