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CFO's will follow suit and Wallstreet will begin to expect tech to make cuts ... It's getting noticed that Twitter/X reduced it's staff by 80%, and also reduce

CFO's will follow suit and Wallstreet will begin to expect tech to make cuts ... It's getting noticed that Twitter/X reduced it's staff by 80%, and also reduced it's cloud spend by 60% ... and there hasn't been any material change to their business. Some might argue that Twitter/X has been able to innovate faster as a result. Now I'm not suggesting that FANG is going to layoff 80% overnight. But I wouldn't be surprised if CFOs gradually over time continue reduce their headcount, or keep headcount flat over the years to come. https://www.cnn.com/2023/04/12/tech/elon-musk-bbc-interview-twitter-intl-hnk/index.html https://www.cnn.com/2023/04/12/tech/elon-musk-bbc-interview-... https://twitter.com/XEng/status/1717754398410240018 https://twitter.com/XEng/status/1717754398410240018

buggy6257 3y ago
I don't think ANY CEO is looking at Musk's handling of Twitter/X and thinking the layoffs had "no material change to their business" https://finance.yahoo.com/news/elon-musk-x-worth-less-221637467.html https://finance.yahoo.com/news/elon-musk-x-worth-less-221637...
nova22033 3y ago
and there hasn't been any material change to their business. The business is worth less half of what Musk paid for it. And that's his estimate of the value.
- tiffanyh 3y ago
  Twitter's valuation dropped more than 32%+ below the price Elon offered to acquire it for (prior to purchase). That's the only reason why Twitter forced him to honor his offer. So it's a mischaracterization to state the value of Twitter halved while on Elon's watch. https://www.cnbc.com/2022/07/11/twitter-shares-sink-after-elon-musk-terminates-44-billion-deal.html https://www.cnbc.com/2022/07/11/twitter-shares-sink-after-el...
asfasfo 3y ago
> and there hasn't been any material change to their business. Their revenue has halved. That's pretty material.
- postexitus 3y ago
  Not if the revenue that disappeared was unwanted revenue. <Roll Safe Meme>
webdood90 3y ago
I would pay money to never see X used as an example of how to run your business ever again
foobiekr 3y ago
I agree with you that people are noticing that Twitter going back to the size it was in 2015 has not really impacted the product, but it has definitely impacted the business. Musk's handling of twitter has been awesome for correcting his public image. I think everyone who is honest accepts that Twitter was massively bloated. By the time Musk made his offer, it was 8x the size it was in 2011 and the product really hadn't changed much in a way that required that kind of increase. But Twitter is an awful experiment because of Musk's clownish handling of just about everything.

buggy6257 3y ago

I don't think ANY CEO is looking at Musk's handling of Twitter/X and thinking the layoffs had "no material change to their business" https://finance.yahoo.com/news/elon-musk-x-worth-less-221637467.html https://finance.yahoo.com/news/elon-musk-x-worth-less-221637...

nova22033 3y ago

and there hasn't been any material change to their business. The business is worth less half of what Musk paid for it. And that's his estimate of the value.

tiffanyh 3y ago
Twitter's valuation dropped more than 32%+ below the price Elon offered to acquire it for (prior to purchase). That's the only reason why Twitter forced him to honor his offer. So it's a mischaracterization to state the value of Twitter halved while on Elon's watch. https://www.cnbc.com/2022/07/11/twitter-shares-sink-after-elon-musk-terminates-44-billion-deal.html https://www.cnbc.com/2022/07/11/twitter-shares-sink-after-el...

asfasfo 3y ago

> and there hasn't been any material change to their business. Their revenue has halved. That's pretty material.

postexitus 3y ago
Not if the revenue that disappeared was unwanted revenue. <Roll Safe Meme>

webdood90 3y ago

I would pay money to never see X used as an example of how to run your business ever again

foobiekr 3y ago

I agree with you that people are noticing that Twitter going back to the size it was in 2015 has not really impacted the product, but it has definitely impacted the business. Musk's handling of twitter has been awesome for correcting his public image. I think everyone who is honest accepts that Twitter was massively bloated. By the time Musk made his offer, it was 8x the size it was in 2011 and the product really hadn't changed much in a way that required that kind of increase. But Twitter is an awful experiment because of Musk's clownish handling of just about everything.