Thanks for the breakdown. I guess the bigger question is why? Don't they want profit? Or are they optimizing for something else like expenses and enterprise value (size of spend)
Thanks for the breakdown. I guess the bigger question is why? Don't they want profit? Or are they optimizing for something else like expenses and enterprise value (size of spend)
They're taking hundreds of millions in profit and doing share buybacks for the investors, they've got plenty of money, their business is to be a middleman and squeeze everyone external to them: businesses, customers, and laborers
If a business is not "profitable" a ton of people can still be personally earning a ton of money. I feel like finance and accounting is just a game to abuse, but what really matters is who is personally getting rich, or even just earning a high salary.
Nobody cares about abstract profit. They care about money in their personal bank account.