TechCrunch is going nuts about how Square is now worth 40 million smackeroos (after raising $10 million) though nothing is out on the shelf yet. As Mel Gibson once said,”Something Is Rotten In Denmark”, but they didn’t have Frigidares and electricity in his day. I smell a Max Bialystock scam here, but that’s part and parcel for a VC in the Valley.

Twitter founder’s unveils  a new credit card reader today for mobile devices. More in the NYTimes here. I can already imagine all the abuses that are gonna rack up with this thing. But why rain on his parade? Know how Google is a verb? In two years, people will say “Square me up with one of those,” when they hit the hot dog vendor. You read it here first.