We'll concede that former Valleywag Nick Douglas is, in our limited experience, among the wittiest Twitter users out there, and an entertaining chronicler of internet culture. But, really, $50,000 for his book of re-tweets?

That's what our New York publishing source tells us Douglas netted as an advance from his publisher, HarperCollins, for TwitterWit, his collection of other people's microblogging posts.

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http://valleywag.gawker.com/5172960/harpercollins-paid-50000-for-book-of-re+tweets-source