The third Twitter co-founder Biz Stone is leaving the company. Now there are no founders left at the company. It is being run by people the VCs put in place.

Stone is leaving to start another company with fellow co-founder Evan Williams.

“I’ve decided that the most effective use of my time is to get out of the way until I’m called upon to be of some specific use,” Stone wrote in a blog post.

I have always maintained that Twitter was doomed from the get go. It is practically a get rich quick scheme. Their business model has been to get acquired however it has not materialized because tech companies are skeptical about buying non revenue generating businesses unlike in the dot com era.

In the meantime, Twitter’s largest investor, Spark Capital, is itching to sell the company before the bubble in tech bursts. Spark lost a ton of money, $44 million, on their other major investment, FlyClear, in a matter of months.

Spark has poured $35 million into Twitter. Todd Dagres, founder of Spark, finds it amusing when people talk about Twitter’s lack of a business model.

RIP Twitter.