Facebook paves the way for a Twitter IPO

What a difference a day makes.

On Tuesday, Facebook delivered its third-quarter earnings report, and to the chagrin of the company's large cast of critics (including yours truly), it showed a meaningful acceleration in mobile advertising revenue.

And just like that, Facebook became an investor favorite for the first time since it came public.

Up until this point, social media, with the exception of LinkedIn, was a flop for everyone except the smart and connected folks who got in these companies years ago in the private markets.

But now Facebook has renewed momentum and public opinion on its side, which opens up the door for its biggest rival, Twitter, to come public.

Twitter, however, has some unique advantages. It's far simpler, faster, and easier to use than Facebook.

So when news is breaking, Twitter rules.

For example, during the presidential debates, Twitter was the communications medium of choice for those seeking real-time updates, analysis, and snarky quotes.

In a way, Twitter is a bigger, crazier version of AOL's pioneering chat rooms of the 1990's. And this time around, everyone from your friends to Kanye West to Rupert Murdoch to a Condescending Willy Wonka shows up to throw in their two cents!

Of course, we have to worry about the numbers.

Can Twitter turn a profit?

Are advertisers getting value for their money?

No one on the outside can answer these questions yet. But with Facebook bringing social media back in vogue for investors, now's as good a time as any for Twitter to step up to an IPO.