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Twitter Is Cutting 9% of Its Global Workforce (adweek.com)
Twitter is planning to lay off 9 percent of its global workforce, as the ailing San Francisco tech giant struggles to please Wall Street despite beating earnings expectations. The company officially announced the cuts today in its third-quarter earnings, days after reports began to surface of the impending cuts. AdWeek reports: According to Twitter, the majority of the reductions will take place in its sales, partnerships and marketing divisions in order to "continue to fully fund our highest priorities," according to a letter to shareholders. However, the earnings also came with some good news. Total monthly active users grew for the second consecutive quarter to 317 million users, gaining 4 million over the past three months since its second-quarter results. Daily active users also increased, rising 7 percent year over year. Twitter's revenue totaled $616 million -- an 8 percent increase year over year. Earnings per share totaled 13 cents, beating expectations of 9 cents per share and $606 million in total revenue. However, the company reported profit fell by $103 million.
Bet they keep the shadowbanners and censors on payroll.
https://news.slashdot.org/stor...
Does it do anything productive or useful to society?
The company's hemorrhaging money.
And no company in their right mind would buy them at the artificially (insanely) inflated price they mistakenly think they're worth.
They've been getting negative press as a bastion of partisan censorship, further alienating users.
So they have to shore up the bottom line somehow..
Chas - The one, the only.
THANK GOD!!!
Twitter is obviously failing because they have refused to make Twitter a safe space from fascist Nazis like:
1. Trump.
2. Anybody who doesn't support Hillary (with the exception of Bernie supporters who converted by the deadline set forth in form 402-33R6).
3. White racists... oh wait, I should have just said "all white people with the exception of those we approve of".
4. Non-atheists*
5. Homophobes (e.g. anyone not gay).
6. Cisgendered
7. Gay people aren't really gay because they don't think what we tell them to think (looking at you Milo & Thiel!)
8. Any racist sports figures that don't flip the bird or at least kneel during the National Anthem.
* MUSLIMS ARE AN EXCEPTION (assuming you are violent that is).
I think that after these impure hate-mongers have been burned off from Twitter that the safe space will flourish and all problems will be solved.
AntiFA: An abbreviation for Anti First Amendment.
Will Twitter ever be able to justify their stock price with a value proposition?
Nothing of value would be lost.
Happiness in intelligent people is the rarest thing I know.
Ernest Hemingway
How can they be blamed for bad performance when they are beating earnings expectations? One would think that exceeding expectations should be enough. Shit happens and profits fall once in a while, expecting profits to do nothing but rise year after year is dumb.
According to this link, back in 2015 Twitter had 3900 employees. Yes, 3900! https://www.statista.com/stati...
What the hell do they need that many people for? Twitter at best could easily function with under 100 employees. 10 in sales, 1 engineer, 1 developer, and 88 managers. /sarc
Realistically, the company could downsize by 80% and streamline their system. They don't need that many people for "microblogging".
If you bought shares in Twitter, you invested in a company that...
- Allowed people to be as abusive as they want provided they're not white
- Allowed ISIS to have a presence
- Allowed witch hunts to take place against users including doxxing and death threats
- Gave up info on people for following the wrong person
- Allowed people to create massive blocklists that slandered them as "harassers" that ran on the logic of "You followed the wrong person"
- Dishes out bans for no reason, and refuses to give up those reasons
- On that note, banning people for being republican.
- Has ignored European Freedom of Information requests
- Added a timeline that, let's be honest here, is used to hide users and tweets
- Censored multiple trending hashtags relating to leaks
- Banned users for repeating or retweeting offensive tweets, but not the original poster
- Didn't ban a guy posting CP until the hashtag demanding his ban was trending worldwide
Is it any surprise that in light of these repeated mismanagements and double-standards that Twitter's share price has been going like a bouncy-ball? I wouldn't want to be associated with them.
I am not here to flame the utility value of Twitter. I admit up front, I simply don't get it. Some people do. Cool to be you.
But whenever I look at that website, it looks about the same to me as it did about 5-7(?) years ago when I first heard of it, and everything everyone says about it, suggests that it does the same thing.
I suppose maybe its popularity has risen (?) so maybe there have been some bitchin' back-end scaling projects. So we're probably not really talking about just one or two programmers. Maybe it could be as high as ten!
But people are saying there are .. thousands? Can anyone with a little inside knowledge shed a little light on what these people do in the course of a day? And please don't pick one of the aforementioned ten back-end scalers. I'm more interested in what the eleventh one does.
I've got 50 twitter accounts. I'm helping them!
I use Twitter to follow climate and energy issues, a little politics, and some fiction writers. If it were to disappear, I would definitely miss it, as it's a minor but useful tool for those purposes. (But I do get very tired of all the garbage one has to wade through at times, like the posts from climate change deniers.)
Try as I might, I can't see how they remain viable in the long run. There's just no way to create enough of a revenue stream to keep them afloat. Personally, I would pay to use Twitter, but not a lot -- perhaps $25/year. If they tried to go to a subscription model, very few people would sign up and the vast majority of their users (and not just the sock puppets) would flee.
Twitter could well be the first major, very widely used social media platform that disappears.
Total monthly active users grew for the second consecutive quarter to 317 million users, gaining 4 million over the past three months since its second-quarter results.
I'm sure that's long term growth and not just due to some temporary factor like interest in the coming election.
Don't waste your vote! Vote for whoever you want, unless you live in a swing state it won't matter anyways
It's hard to swallow being laid off, Hopefully these employees will migrate to a new job quickly.
Remember life before the iPhone (and before android copied the iphone)? Your cell phone (if you had one!) had a 10 number buttons with 3 letters on them. Texting meant pressing the number keys 1-3 times to select a letter. It sucked. Anyhow, twitter started as a web interface to text messaging. Hooray, read and send text message from a computer! Of course, sending text messages has been a solved problem for a decade now so there's no reason for twitter to exist.
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It's users are a PRODUCT.
Or to put it in modern doubletalk - it's users are CONTENT.
Frankly, Twitter is long overdue at that elephant graveyard where MySpace's bones are currently being bleached in the sun.
It's outdated technology and a form of communication stemming from the fact that a decade ago teens had no money for their SMS messages, no money for or access to smartphones and no access to free WiFi everywhere.
Now it's just a tool for vapid parasocial interaction with celebrities and a place to go if you want to start a rapid fire flame war.
Thanking much to its outdated technology which precludes any kind of meaningful conversation - promoting instead short, rapid and crowdsourced bursts, waves and tsunamis of (out)rage.
In a world where there is both a Facebook AND people who clearly think that "Yo!" is a useful communication too, Twitter is doomed.
Mit der Dummheit kämpfen Götter selbst vergebens
...censoring views they don't agree with?
http://www.bbc.com/news/techno...
Otherwise Hated in the Nation won't happen
And a few other acquisitions that weren't profitable
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Dear Employee, we regret to inform you that we hav
e eliminated your job. Please sign the provided no
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[reply] [retweet] [heart] [...]
I've fallen off your lawn, and I can't get up.
In any functional economy you need lots of stuff:
you need people making safe food, safe water, shelter, clothes, etc then when you have those....
you want people providing necessary services like healthcare, police, firefighting etc, then when you have those...
you want optional stuff and services like hotels, eateries, theaters, games, sports, etc, and to help people find the staff they want...
you have advertising.
Ads are important in a market economy.... but ads cannot BE the economy and the economy cannot be mostly run on ads, cannot be ad-centric, etc. Advertising can never be at the heart of everything - that's an inversion. The current internet bubble is built on the whacko model that everything on the web can be "free" and supported by ads - we can all live in bliss advertising to each other in a wonderful futuristic "clean" economy where nobody makes anything, nobody gets their hands dirty, we can all just make companies that spy on each other and advertise to each other, and we will all get rich off of nothing.
Sorry, but the economy can sustain a Google or a Facebook if there are enough people to inspect and analyze and sell data about.... but we cannot all get rich by launching apps that make nothing and then go public with huge IPOs. People think of themselves as smarter now but this is just another bubble like the first one, except worse. at least PETS.COM had an actual business model