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A comment on TikTok-owner ByteDance planning to layoff thousands in coming months. Parent comment
That's about 40% of GOOG - which prints $60B per year. TikTok makes nothing.
It's only growing revenues at 53%, and they're massively decelerating.
It's going to be hard to IPO for anything near that without ZIRP when they don't have profits and their growth rates are declining...
Easiest way to make the numbers look better for IPO is fire half the employees and make the other half work 3x as much.
Alphabets revenue in 2022 was $280B, with ~$60B profits.
ByteDance info is harder to find, but in 2021 it was ~$60B revenue, with $7B loss. [1]
https://musically.com/2022/10/07/bytedance-2021-financials/
That's about 40% of GOOG - which prints $60B per year. TikTok makes nothing.
It's only growing revenues at 53%, and they're massively decelerating.
It's going to be hard to IPO for anything near that without ZIRP when they don't have profits and their growth rates are declining...
Easiest way to make the numbers look better for IPO is fire half the employees and make the other half work 3x as much.