wayneL
VIVA LA LIBERTAD, CARAJO!
- Joined
- 9 July 2004
- Posts
- 25,948
- Reactions
- 13,240
Not surprising the company was loss making when they employ the kind of people who were also buying crypto last year...Actually, I'd say twitters fortunes are looking pretty good. As I've said before, this era of endless money - and jobs for 'tech' is at an end. Wonder if anyone told these kiddies that all the other big tech firms are getting rid of people too?
View attachment 149425
And I would suggest twitter can continue to function with a whole lot fewer employees as well. View attachment 149426
As tech lay-offs spread, Meta sacks 11,000 workers
Job cuts come to Silicon Valley
On November 9th Meta said it would fire 11,000 people, or 13% of its workforce. It is not the only tech firm to give its workers the boot, as the sector goes through a harsh downturn. A week earlier Stripe, a fintech firm, announced it would cut 14% of its staff; Twitter’s new owner, Elon Musk, fired half its personnel. According to Crunchbase, a data provider, more than 60,000 American techies have been shown the door this year.
Another way to look at it:
Who's talking about Facebook, tiktok, instagram?
It's been twitter coverage 24/7 with record usage.
The guy knows how to showboat.
Plenty of advertising on my timeline.Its only any good if it attracts advertising (90% of twitter revenue) unless Musk can convert it to some other means of income.
For all the endless debate about freedom of speech or politics it all means SFA, twitter is a business and it was losing bucket loads of money before Musk paid to much for it.
How Musk can pull the rabbit out of the hat remains to be seen.
What is your valuation of twitter and what is a bucket load of money? Have you been through twitters 10-Ks? I doubt it. Twitter made a bucket load of profit in 2018 and 2019 when revenue was 2/3 of what it was in 2021 and only lost money in 2021 due to class action lawsuit being settled. Musk has done what he needed to which was control costs rather than grow revenue (which is counter to the prevailing Ivy league mentality in tech that would have been driving the board of twitter). They were clearly spending $1 to generate $0.80 of revenue to satisfy the need for 'growth' maybe they can afford to dop off the advertising revenue and go back to being small and lean.Its only any good if it attracts advertising (90% of twitter revenue) unless Musk can convert it to some other means of income.
For all the endless debate about freedom of speech or politics it all means SFA, twitter is a business and it was losing bucket loads of money before Musk paid to much for it.
How Musk can pull the rabbit out of the hat remains to be seen.
What is your valuation of twitter and what is a bucket load of money? Have you been through twitters 10-Ks? I doubt it. Twitter made a bucket load of profit in 2018 and 2019 when revenue was 2/3 of what it was in 2021 and only lost money in 2021 due to class action lawsuit being settled. Musk has done what he needed to which was control costs rather than grow revenue (which is counter to the prevailing Ivy league mentality in tech that would have been driving the board of twitter). They were clearly spending $1 to generate $0.80 of revenue to satisfy the need for 'growth' maybe they can afford to dop off the advertising revenue and go back to being small and lean.
View attachment 149547
Twitter still has significant cashflow generation from operations and blew a hell of a lot of money on capex - capex on things like laptops for employees which they don't have anymore, for office space they don't need, for office improvements they don't need. This is a turnaround specialists wet dream - positive operating cashflow mixed with horrific uncontrolled capital spending. Simply having an adult in the room telling the man-children twitter employed that you cannot have a $5000 beanbag chair by will probably equate to a half billion a year in savings.
View attachment 149550
He also has a habit of cutting teams down to super enthusiastic, highly capable people (eg one of his AI teams is 150 people where other companies have 3000 mediocre turn ups).What is your valuation of twitter and what is a bucket load of money? Have you been through twitters 10-Ks? I doubt it. Twitter made a bucket load of profit in 2018 and 2019 when revenue was 2/3 of what it was in 2021 and only lost money in 2021 due to class action lawsuit being settled. Musk has done what he needed to which was control costs rather than grow revenue (which is counter to the prevailing Ivy league mentality in tech that would have been driving the board of twitter). They were clearly spending $1 to generate $0.80 of revenue to satisfy the need for 'growth' maybe they can afford to dop off the advertising revenue and go back to being small and lean.
View attachment 149547
Twitter still has significant cashflow generation from operations and blew a hell of a lot of money on capex - capex on things like laptops for employees which they don't have anymore, for office space they don't need, for office improvements they don't need. This is a turnaround specialists wet dream - positive operating cashflow mixed with horrific uncontrolled capital spending. Simply having an adult in the room telling the man-children twitter employed that you cannot have a $5000 beanbag chair by will probably equate to a half billion a year in savings.
,
I would be very scared if I were a tech worker in California right now.He also has a habit of cutting teams down to super enthusiastic, highly capable people (eg one of his AI teams is 150 people where other companies have 3000 mediocre turn ups).
He cuts out the bloat to those that actually do the work.
I'm no massive elon fan either. My post history is pretty abusive towards him. But I do think he can get a result.
I would be very scared if I were a tech worker in California right now.
If Musk succeeds in having twitter 'work' with what sounds like 25% of the original workforce, it will have significant ramifications for the rest of the industry. Facebook, Google, Apple, Amazon, all the other techs out there would start getting unrelenting pressure to use the 'twitter model' to slash and burn the workforce.
Tesla spends so much money on projects they literally are at full capacity. Spending anymore won't help. Elon seems to find dedicated geniuses.You see what happens when you don't spend enough also. It's more about how good your management is.
Exactly, we won't be forced to get a brain chip just like we were not forced to get a vaccination and a dozen booster shots.Quick, jump on board the propaganda train....
The MSM have now fully adopted one of the wildest theories by amplifying “Muh brain-chips”. They are peddling the idea that Elon has some sort of dark, nefarious plot to control all humanity with Nueralink brain-chips.
If people would actually read these articles, it clarifies that the chips are for tragically injured people to regain neurological function (ie, blind people).
And for those of you who fall for this propaganda and who are afraid of “Muh brain-chips” guess what, you don’t have to get one.....
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?