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I think your argument reduces to "culture is better the more you spend on people" and "Twitter overspent on engineering people in order to create culture." Thi
by xbar 4y ago
I think your argument reduces to "culture is better the more you spend on people" and "Twitter overspent on engineering people in order to create culture."
This is false. Twitter was profitable in 2017, 2018, 2019 and 2020 and its R&D budget was half that of 2022, or less, for those years and by all accounts it had a fantastic culture.
In 2021, the last year available and its very worst year since 2015, Twitter made $5 billion in revenue and lost $492 million. So your "millions of dollars a day" is not wrong-- $1.4 million per day.
Twitter spend $1.2 billion on R&D-- less than 25% of its revenue. In 2020, it spend $873 million on R&D and made a profit. In 2019, it spent a mere $682 million on R&D and made a $366 million dollar profit. Similarly in 2018.
- KptMarchewa 4y agoThe loss in 2021 was due to 765 million dollar lawsuit settlement. Also, after that loss was 221 million not 492. It would be 0.5B profitable if not that.