• Venture Beat, Monday, May 23, 2011 11:45 AM

At the TechCrunch Disrupt conference on Monday, Union Square Venture's Fred Wilson would neither confirm nor deny that his firm has sold some of its Twitter stock via secondary markets. "When asked by TechCrunch's Erick Schonfeld, Wilson said that he wouldn't comment, but he also 'wouldn't argue' with news reports that USV and other investors have sold some of their Twitter stock," VentureBeat reports.

Wilson was an early investor in Twitter, which has recently faced increasing criticism for its management structure, lack of vision, and inability to profit from its vast popularity. According VentureBeat, Wilson clearly believes that "the Internet will serve as a greater force for societal change in the future, and somehow, he wants to make money off of it."

That said, "he's still trying to figure out how exactly to invest in the Internet-driven cultural revolution." While Twitter isn't profitable yet, societal upheaval can still benefit existing tools, like the way the service has been used in the recent and ongoing Mideast revolutions, Wilson pointed out. Adds VentureBeat: "He seemed particularly interested in the anti-establishment potential of the Internet and future services."

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