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Honest question: Why are you speechless? Did you read the S-1? They always documented how much they paid out to businesses. Yes, calling all $10 revenue is dis
by jcdavis 15y ago
Honest question: Why are you speechless? Did you read the S-1? They always documented how much they paid out to businesses.
Yes, calling all $10 revenue is disingenuous, but this accounting change doesn't effect their profitability (or lack thereof)
- philwelch 15y agoYes, calling all $10 revenue is disingenuous No, it isn't. That's the definition of revenue. What's disingenuous is obscuring the costs that correspond to, and apparently exceed, that revenue. If I buy an iPod from Apple for $150 and sell it to you for $199, my revenue is $199. That's the definition of revenue. Along with that revenue, I have $150 COGS (cost of goods sold), plus my own expenses. So my net income (revenue) might be anything less than $49.