this post was submitted on 12 Jul 2023
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Would that be genuinelly losing $30M a year or would it be only "losing" it in accounting terms because of paying more than $30M a year for "trademark use rights" to a company based in an offshore tax haven, said company being nothing more than a metal plate on a door next to the plates for 100s of such "companies" and 100% owned by the very same parent company as Tumblr?
Because if there's one thing which is common in Tech companies is using intelectual property legislation and convoluted corporate structures to create accounting losses for the purposed of paying no taxes (and publicly claiming poverty).
Same thing in Hollywood (hence the expression "Hollywood Accounting"), by the way, which is how they just recently claimed they "couldn't pay more because they were losing money" to the actors' union representatives during recent negotiations.
Mind you, such accounting trickeries can be undone by Courts (which can just deem that the "for tax evasion only" daughter company is not actually a real company set up to do business, so all those "intellectual property costs" used to create accounting losses legally become just an internal transfer of money within the same company, hence not a cost, hence do not reduce declared profits and the tax on them.
However there is no actual Political will to do so, which is why even though the laws for it are in the books, they're almost never applied.
this was my instant thought on the headline. what business that is truly losing $30,000,000 every year is going to stay open?
The WNBA. It operates at a loss. Been that way for the last 25 years.
WNBA is the NBA, it’s the same organization. They make more money than they know what to do with.
The WNBA is not a profitable league and operates at a $10 million dollar loss every year.
Did you skip my comment completely? WNBA is a part of the NBA. They’re not operating at a loss, they are a cost incurred by the NBA in order to promote basketball to a female viewership.
It’s like saying a marketing team operates at a loss because ads cost a company money. It’s just the wrong way to look at it. Usually the people who are adamant on phrasing it such are misogynists, which I really hope you aren’t, and you can understand what I’m saying
The WNBA is not part of the NBA. They have had their own set of owners since 2002. They operate at a loss every year and the NBA covers it as their sister league. Throwing out buzzwords like "misogynist' is based on feelings. What I am telling you is a fact.
The NBA owns the WNBA de jure: the trademarks, all the intellectual property. The WNBA Enterprises LLC is owned by the NBA.
The NBA doesn't own the WNBA teams though - although a handful of them belongs to NBA owners. So basically the WNBA teams participate in a league they don't own.
https://www.nytimes.com/2022/02/03/sports/basketball/wnba-capital-raise-investors.html
The NBA website literally mentions the WNBA in the “Our Leagues” page:
https://careers.nba.com/our-leagues/
That being said, “misogynist is a buzzword” is a hilarious thing to say. I can tell what type of person you are already, and blocking you will not deprive me of literally anything of value.