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I think they're saying net income because they're assuming there wasn't any cost for it. But they do have to pay taxes on it, and the lawyers and executives tim

I think they're saying net income because they're assuming there wasn't any cost for it. But they do have to pay taxes on it, and the lawyers and executives time spent on trying to make the deal work did cost something. Probably much higher margin work than their core business though. If only you could repeatedly negotiate and then recover breakup fees as a business..

hn_throwaway_99 3y ago
> I think they're saying net income because they're assuming there wasn't any cost for it. The issue is that they conflated ARR, which obviously does have a cost, with the largely "free money" from their breakup fee.