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I never like it when writers use the word "lose" to describe money not earned. Yeah, MGM is not earning as much as it could because of this attack. They are u

I never like it when writers use the word "lose" to describe money not earned. Yeah, MGM is not earning as much as it could because of this attack. They are under pressure to settle with the attackers. Articles like this can increase that pressure. I'm glad that they aren't settling, and I'm certain that they will survive this attack.

slashdev 3y ago
Money not earned is equivalent to money lost in this case. It will affect their quarterly results the same way.
NegativeK 3y ago
There's an implied "losing $X [in comparison to expected revenue]" every time they say it. It's a reasonable perspective from accounting and, in my mind, a reasonable shorthand. For a more literal version of losing, people would be saying misplacing or stealing.
SeanAnderson 3y ago
Huh? Google says MGM Resorts opex for 2022 11.6B or 31M/day, net income 1.4B or 3.8M/day. It doesn't seem unreasonable to say they are, in fact, losing 8.4M/day to opex.
kube-system 3y ago
It's a loss of income. This is a common use of the word.
- bqmjjx0kac 3y ago
  Well, it's a loss of projected income, which in many ways is not real.
  - CamelCaseName 3y ago
    It's not even that, it's revenue. > MGM Resorts International could be losing between $4.2 million and $8.4 million in daily revenue
    - kube-system 3y ago
      Revenue is a measure of income. Unless speaking about specific types of revenue or specific types of income, they are synonymous.
      - hollerith 3y ago
        Accounts don't think revenue and income are synomymous: income is revenue minus expenses. Now if you were to say that profit and income are synonymous, that I might be okay with.
        kube-system 3y ago
        Revenue minus expenses is "net income". "income" is ambiguous.
        hollerith 3y ago
        OK. I believe it.
      - deleted 3y ago
        [deleted]
  - kube-system 3y ago
    It is just plain normal language to refer to a loss as a comparison against a current trajectory or current state. It is reasonable to assume that the reader/listener knows that the future cannot be predicted exactly, because this is generally true. This is why it isn't said explicitly. It would be silly to correct someone who said "I just accepted a $120,000/yr job" with "you don't really know for sure, you could get fired or die". The colloquial presumption is that the rate of future income cited is dependent on a steady trajectory without confounding variables.
  - JumpCrisscross 3y ago
    > it's a loss of projected income, which in many ways is not real About as real as money.
  - Groxx 3y ago
    It's real enough that companies regularly borrow against it, which is about as real as anything is with money.
  - paulddraper 3y ago
    It's more real than not.
libraryatnight 3y ago
There's lots of instances where I'd agree, but this one seems like a tried and true business with years of revenue to gauge how much they are in fact "losing" on average. I also wonder how much pressure it puts on MGM - who are no doubt very much aware of the loss (every major outage I've been on eventually comes down to how much did this cost us - whether it's money, customer attrition, customer trust etc) vs how much pressure it puts on executives following along to maybe pay attention to their IT and security teams. Pipe dream.
paulddraper 3y ago
> I never like it when writers use the word "lose" to describe money not earned. What the difference between not earning $8M and earning $8M and losing it? Bank account looks pretty similar.
SoftTalker 3y ago
If your salary was cut 20% next year, would you think you were not losing money because you had not yet earned it?
- JetSpiegel 3y ago
  I have a contract that requires my employer to pay up. Not the same think as avoiding shopping somewhere.
RandallBrown 3y ago
You're getting a lot of comments to the contrary, but I agree with you. There is a difference between losing money (like someone is actually stealing the money) and not getting money you were hoping/expecting to get. In this context it can even be a little bit confusing since there are criminals involved that could actually be stealing money. Language has lots of ambiguities and despite this being a common way of describing this situation, I don't like it. Some people don't like the word "moist" either and that's just fine. It's an opinion.
rahimnathwani 3y ago
If your employer gives you 2 weeks notice of employment termination, did you lose your job? After all, it only applies to future payroll periods.
- eddieroger 3y ago
  Yes you lost your job, and will not receive money in the future. Money from a job is in exchange for services rendered to company. It's reasonable to say you can't lose something you haven't yet received, but it is also normal to say they're losing money given they had an incredibly high likelihood of actually receiving it.
PopAlongKid 3y ago
The revenue may be going down, but that doesn't mean they have to operate at a loss (they could always cut their variable expenses to match the cut in revenue). It would be more accurate, but not as click-baity, to describe it as "MGM getting up to $8.4M less revenue a day". A slightly more misleading use of "losing money" is for example when movie or music companies claim they are "losing" billions of dollars to piracy, when there is no reason to believe that every pirated copy would instead be purchased at full price, if only piracy were eliminated.

slashdev 3y ago

Money not earned is equivalent to money lost in this case. It will affect their quarterly results the same way.

NegativeK 3y ago

There's an implied "losing $X [in comparison to expected revenue]" every time they say it. It's a reasonable perspective from accounting and, in my mind, a reasonable shorthand. For a more literal version of losing, people would be saying misplacing or stealing.

SeanAnderson 3y ago

Huh? Google says MGM Resorts opex for 2022 11.6B or 31M/day, net income 1.4B or 3.8M/day. It doesn't seem unreasonable to say they are, in fact, losing 8.4M/day to opex.

kube-system 3y ago

It's a loss of income. This is a common use of the word.

bqmjjx0kac 3y ago
Well, it's a loss of projected income, which in many ways is not real.
- CamelCaseName 3y ago
  It's not even that, it's revenue. > MGM Resorts International could be losing between $4.2 million and $8.4 million in daily revenue
  - kube-system 3y ago
    Revenue is a measure of income. Unless speaking about specific types of revenue or specific types of income, they are synonymous.
    - hollerith 3y ago
      Accounts don't think revenue and income are synomymous: income is revenue minus expenses. Now if you were to say that profit and income are synonymous, that I might be okay with.
      - kube-system 3y ago
        Revenue minus expenses is "net income". "income" is ambiguous.
        hollerith 3y ago
        OK. I believe it.
    - deleted 3y ago
      [deleted]
- kube-system 3y ago
  It is just plain normal language to refer to a loss as a comparison against a current trajectory or current state. It is reasonable to assume that the reader/listener knows that the future cannot be predicted exactly, because this is generally true. This is why it isn't said explicitly. It would be silly to correct someone who said "I just accepted a $120,000/yr job" with "you don't really know for sure, you could get fired or die". The colloquial presumption is that the rate of future income cited is dependent on a steady trajectory without confounding variables.
- JumpCrisscross 3y ago
  > it's a loss of projected income, which in many ways is not real About as real as money.
- Groxx 3y ago
  It's real enough that companies regularly borrow against it, which is about as real as anything is with money.
- paulddraper 3y ago
  It's more real than not.

libraryatnight 3y ago

There's lots of instances where I'd agree, but this one seems like a tried and true business with years of revenue to gauge how much they are in fact "losing" on average. I also wonder how much pressure it puts on MGM - who are no doubt very much aware of the loss (every major outage I've been on eventually comes down to how much did this cost us - whether it's money, customer attrition, customer trust etc) vs how much pressure it puts on executives following along to maybe pay attention to their IT and security teams. Pipe dream.

paulddraper 3y ago

> I never like it when writers use the word "lose" to describe money not earned. What the difference between not earning $8M and earning $8M and losing it? Bank account looks pretty similar.

SoftTalker 3y ago

If your salary was cut 20% next year, would you think you were not losing money because you had not yet earned it?

JetSpiegel 3y ago
I have a contract that requires my employer to pay up. Not the same think as avoiding shopping somewhere.

RandallBrown 3y ago

You're getting a lot of comments to the contrary, but I agree with you. There is a difference between losing money (like someone is actually stealing the money) and not getting money you were hoping/expecting to get. In this context it can even be a little bit confusing since there are criminals involved that could actually be stealing money. Language has lots of ambiguities and despite this being a common way of describing this situation, I don't like it. Some people don't like the word "moist" either and that's just fine. It's an opinion.

rahimnathwani 3y ago

If your employer gives you 2 weeks notice of employment termination, did you lose your job? After all, it only applies to future payroll periods.

eddieroger 3y ago
Yes you lost your job, and will not receive money in the future. Money from a job is in exchange for services rendered to company. It's reasonable to say you can't lose something you haven't yet received, but it is also normal to say they're losing money given they had an incredibly high likelihood of actually receiving it.

PopAlongKid 3y ago

The revenue may be going down, but that doesn't mean they have to operate at a loss (they could always cut their variable expenses to match the cut in revenue). It would be more accurate, but not as click-baity, to describe it as "MGM getting up to $8.4M less revenue a day". A slightly more misleading use of "losing money" is for example when movie or music companies claim they are "losing" billions of dollars to piracy, when there is no reason to believe that every pirated copy would instead be purchased at full price, if only piracy were eliminated.