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A comment on The tech sector teardown is more catharsis than crisis. Parent comment

Re:The tech sector teardown is more catharsis than crisis by itsoktocry on Wednesday May 18, 2022 @01:20PM (#31425281)
>If anything, it's more important than ever to hire top people - which requires a decent salary.

These are not "top people", they are average people. This isn't Lake Wobegon, where all the kids are above average.

>So what? Last year COIN made $3.62B earnings.

Only in Silicon Valley do people say "so what" to profits and quote revenue numbers. We're literally talking about high costs. Selling dimes for a nickel is simple, but not sustainable.

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Re:The tech sector teardown is more catharsis than crisis by matwood on Wednesday May 18, 2022 @02:19PM (#31425948)
Not revenue. In 2021 COIN earned 3.62B profit on 7.84B revenue. People are acting like COIN is one of these companies that has never made money. Last year they had a $14.50 EPS.

2021 Fiscal Year https://finance.yahoo.com/quote/COIN/key-statistics?p=COIN

Of course past results are not indicative of the future, but in 2020 and 2021 COIN had positive earnings.

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Re:The tech sector teardown is more catharsis than crisis by phonon on Wednesday May 18, 2022 @02:45PM (#31426228)
They actually made that in profits last year.

https://d18rn0p25nwr6d.cloudfront.net/CIK-0001679788/8e5e050...

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