this post was submitted on 15 Jul 2023
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nuff said

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[–] b3nsn0w@pricefield.org 5 points 1 year ago (3 children)

probably both. twitter was never profitable afaik, the whole idea was to have either some rich moron or (more likely) a megacorp buy it and everyone who contributed would get a fat final paycheck. but the way musk handled things definitely didn't help either.

[–] Rodeo@lemmy.ca 14 points 1 year ago (2 children)

I just want to point out the idea that these companies not being profitable is bullshit. It just means they've moved money that would be profit into some other place and now they can call it something other than profit.

Got $100k extra profit? Pay it all out as bonuses to your executives, now that $100k is an expense instead of profit.

[–] b3nsn0w@pricefield.org 2 points 1 year ago

on the surface level, makes sense, yeah. but twitter hosts video, that stuff isn't cheap -- hell, even images aren't cheap and twitter has piss poor ad integration and a meaningless subscription that they made pretty much as uncool to buy as possible. hosting a platform that size is hella expensive.

[–] kameecoding@lemmy.world 7 points 1 year ago

Twitter reported its first-ever profitable quarter Thursday after more than four years of trading on the public market. The company announced $91 million in profit for the fourth quarter of 2017. Profitability was the #goal, CEO Jack Dorsey told investors in February 2017, and Twitter nailed it. The stock was up by more than 14 percent in after-hours trading.

https://mashable.com/article/twitter-profitable-earnings-2017-first-time

it was profitable at least at some point

[–] Techmaster@lemmy.world 3 points 1 year ago* (last edited 1 year ago)

the whole idea was to have [...] some rich moron [...] buy it

Mission accomplished!