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Iโ€™m skeptical. This is social consumer tech. You can outsource maintenance and basic content moderation but Iโ€™d guess the product is too culturally American for core to be made much cheaper. And the hard assetsโ€ฆ fraction of muskโ€™s buy price. Goodwill soft capital eroding fast.
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Yea, I'm not saying I know enough to really know, and agree that the cultural angle is real, but I'm also unsure if chronically online people everywhere can't do Twitter product, and I don't think their *old* financial statements look that crazy where collapse is imminent.
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That said - if revenue goes $1B -> $300M, then maybe you can't cut your way out of that while maintaining min viable scale, and so they'd actually have to find different revenue streams - playing waaay more on hard mode (Metaverse anyone?!?)
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We are remote too and my estimate is that in-person is 3x more productive than remote. Under Elon probably 6-8x more productive. He alluded to losing a big set of advertisers. I wonder if his advisors are pointing out that distancing himself would probably be the optimal soln.
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I'm unsure how people aren't more productive remote? What are you doing that requires so much in person? I find that managers that struggle managing remote teams are were always not very good, or at least are improperly adapting to the situation.
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Could be larger companies' employee commitment isn't very high (hence quiet quitting, etc.) and the bureaucracy may easier to move IRL? From the actual work perspective, I don't think most tech jobs are worse remote - many are better. This is assuming good home office space.
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Anything that requires two or more people to work together becomes a scheduling problem. Eg: PM writes a ticket for an engineer, leaves for the day. Unless it was part of sprint, context isnโ€™t communicated well enough. Engineer works on something else because blocked.
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PM decides to answer comments in the evening so engineer gets answers in his morning but has more questions. All this gets fixed as teams learn but its slow and you have to come with new tactics. โ€œAlways do 5% of ambiguous tickets while PM available โ€ฆ โ€œ etc ..
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With super senior engineers and well defined interfaces working on separate systems - remote has a better chance of working smoothly. Also not all businesses require cut throat execution. Zoho does โ€œonlyโ€ $550M - $650M revenue but EBITDA margins are 50%+!!
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