Why'd Twitter Leave $1.6B on the Table?

I’m so disappointed with how Twitter Inc.’s  TWTR +80.98% management and bankers have brought this company public today that I now don’t expect that I’ll ever invest in Twitter.

See, by my calculations, Twitter just left $1.6 billion of shareholder money on the table by pricing its 80 million shares some $20 below where the market is today.