The problem with the headcount is that they've had an excessive number of funding rounds and ramping up staff is how to show you're doing something "productive"

The problem with the headcount is that they've had an excessive number of funding rounds and ramping up staff is how to show you're doing something "productive" with the money. It's insane that they couldn't turn a profit ten years ago. They have a small moat and a well segmented user base. Advertisers should have been coming in droves even before the enshitification of the site.