Re:Twitter engineer: I thought I’d been hacked. It turned ou...
by dragonwriter on Friday December 02, 2022 @02:46PM
(#33835813)
> Presumably any private equity firm would also have came to a conclusion of reducing headcount.
Any private equity firm would probably not have come to the recommendation of purchasing a firm that was, in ongoing terms, narrowly profitable in a transaction that would saddle the firm with about a third of its annual pre-acquisition revenue, several times its annual profit, and a sizable share of its project post-acquisition reserves in annual debt service costs, even if the particular buyer wasn’t one where the mere prospect of the purchase would disrupt revenue.
As much as they can be very much be criticized, there is a sense in which criticizing Musk’s post-acquisition actions at Twitter is akin to criticizing actions of the Titanic’s officers and crew after the encounter with the iceberg.
Any private equity firm would probably not have come to the recommendation of purchasing a firm that was, in ongoing terms, narrowly profitable in a transaction that would saddle the firm with about a third of its annual pre-acquisition revenue, several times its annual profit, and a sizable share of its project post-acquisition reserves in annual debt service costs, even if the particular buyer wasn’t one where the mere prospect of the purchase would disrupt revenue.
As much as they can be very much be criticized, there is a sense in which criticizing Musk’s post-acquisition actions at Twitter is akin to criticizing actions of the Titanic’s officers and crew after the encounter with the iceberg.