This article raises some interesting points but I think ultimately misses the mark. Twitter's problem is that it does and always has lacked discipline. It spen

This article raises some interesting points but I think ultimately misses the mark. Twitter's problem is that it does and always has lacked discipline. It spends an enormous amount of money on product and engineering and has almost no velocity to show for it. If they could have reigned it in and taken a careful approach from the get-go, things would have been very different for them. 2012 was way too late to actually right the ship. Costolo was chosen to try to bring meagre profitability to the money fire. Whatever decisions they made at that point were nearly immaterial. If instead Twitter had exercised careful hiring and engineering discipline, it could have greatly cut costs, which would have given it significantly more leverage and more options by the time 2012 came around.