3 ms·
> it's not true, it's the opposite, demonstrated black on white in the financial documents Which financial documents? Twitter is a private company now. How did
by xcv123 3y ago
> it's not true, it's the opposite, demonstrated black on white in the financial documents
Which financial documents? Twitter is a private company now. How did you get access to their private financial statements?
Also, revenue != profit, and those numbers are estimated, as explained in the articles that you linked to. Those sources do not have access to the financial statements.
Net income for Twitter before it went private was -$221 million. That's a $221 million loss in 2021 before Musk bought it (public information, since it was a public company). 80% of the employees were fired and the system is still running. Why should those people have stayed employed and continued to lose $200M+ per year? Do you believe a company can continue to pay staff if it has no money?
> P.S. Anyway why this article is flagged?
It's a dupe. Further discussion here: https://news.ycombinator.com/item?id=39196390 https://news.ycombinator.com/item?id=39196390
- zimpenfish 3y ago> That's a $221 million loss in 2021 That was down to a one-off $800M lawsuit settlement. They technically made $580M profit in 2021.
- xcv123 3y ago"Technically" that is a $221M loss in 2021. In 2020 they lost $1.1 billion. 2018 and 2019 were the only profitable years in the 10 years prior to 2022 [0]. From 2018 to 2021 they nearly doubled the number of employees from 3920 to 7500 [1]. Jack Dorsey regretted it and apologized for over-hiring [2]. [0] https://www.statista.com/statistics/274563/annual-net-income-of-twitter/ https://www.statista.com/statistics/274563/annual-net-income... [1] https://www.statista.com/statistics/272140/employees-of-twitter/ https://www.statista.com/statistics/272140/employees-of-twit... [2] https://www.theguardian.com/technology/2022/nov/05/twitter-elon-musk-jack-dorsey-apology https://www.theguardian.com/technology/2022/nov/05/twitter-e...