Ah the old "Everyone else is stupid" point of view. Sure, ok, Mark Zuckerberg is stupid. Satya Nadella is stupid. Tim Cook is stupid. Every tech company CEO is

Ah the old "Everyone else is stupid" point of view. Sure, ok, Mark Zuckerberg is stupid. Satya Nadella is stupid. Tim Cook is stupid. Every tech company CEO is stupid. Maybe every CEO isn't stupid. Maybe these companies were simply structuring their businesses to maximize their chances of capturing new growth opportunities in an environment of incredibly cheap capital. Most companies could hire 5 engineers who will completely transform their businesses. And they'll hire 50,000 in an effort to find those 5. It's probably true you could run twitter with under 1,000 people. But it's probably not true that you can easily figure out who those 1,000 people are and get them to stay whilst you fire the other 6,500, and it's absolutely true that if the current CEO of twitter had tried that he would've got fired before he had a chance to pull it off. Go ask investors, do they want Twitter to reduce their ongoing costs significantly, with a significant chance it does long term damage to their growth plans, or do they want to grow revenue 30% YoY?