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Twitter is Shutting Down Its Video App Vine (recode.net)
Twitter's plan to refocus on its core business consists of laying off 9 percent of its staff, and also killing off Vine. The company announced today that it will shut down Vine's video app in the coming months. From a Recode report: Vine has been struggling for some time, so Thursday's move is surprising but not unbelievable. The app was never a revenue driver for the company, and it was no longer growing. Many of its top executives left over the spring and early summer. What's interesting is that Twitter is shutting the app down instead of trying to sell it off. Or perhaps it did try and simply couldn't find a buyer (like a buyer for itself). Either way, Vine will soon shut down. The company says that users will be able to download their Vine videos before that happens, but there has been no specific timetable announced. Vine general manager Hannah Davis, who just joined the company this spring, will stay on to oversee the transition, according to a spokesperson.
Unlike Twitter itself, which has been making money ...
One of the first steps in protecting yourself from finance weasels is to learn what their words mean. In particular, "revenue" and "profit" are two very different things. For example, Twitter's numbers from last quarter show their revenue from the quarter was over $600 million. Perhaps not Google numbers, but not a lot of companies earn that much in a single quarter. However, their profit was about -$100 million. So of course the sensible thing here would be to get rid of some of the things that are costing more than they are making. If Vine has lots of folks working on it, and isn't in fact pulling in a lot of revenue (raw $), then yes it makes perfect sense for a bean-counter to want to get rid of it.
the difference between revenue and profit has absolutely nothing to do with being a "finance weasel". it is financial jargon, and a basic one at that.
do you really mean to imply that failing to understand the distinction between a monitor and a CPU is protecting yourself from IT weasel-words?