Facebook is printing immense profits now. It wasn't that long ago a lot of people were proclaiming that could never happen. That's not to say Twitter will do the same, but it's entirely plausibly they can reach a modestly profitable ad-based business model off a couple billion dollar sales basis (which it seems they will be able to reach).
I'm not sure I would say immense, but they are certainly making profit. Facebook makes a little more than half the profit of HP (which many HN users may have forgotten still exists).
What is immense is its valuation of 80 times earnings even while the product is literally running out of humans left to be new users (let alone humans who have money).
That puts them in the top 200 global corporations in terms of profitability. That is truly immense - especially for a 10 year old business (that has only been a functional business for maybe five years).
Take for example McDonald's, they do $5.5 billion in profit. Who wouldn't consider MCD an immense business? Facebook will catch them in two years.
They're tracking a similar profit level as: Aflac, Metlife, Traveler's, Deere, Rio Tinto, Caterpillar, Inditex, Lockheed, Gilead etc. These are incredibly massive businesses.
HP did $1.2 billion last quarter. Facebook will catch that basis within four or five quarters at the rate they're going. HP is a 75 year old company.
This is what amazes me. The last few humans left without a facebook account are those earning $2 day. What possible business model can sustainably boost earnings 10x from here?
Could argue that for the current earnings report to have even been possible, they had to move away from Rails; otherwise the user base could not have grown to what it is today.
Saying that, Rails' scaling story has likely improved since 2009/2010, I believe Github and other high traffic sites currently use Rails. For Twitter it was too late. Only high profile company I've heard of that left Rails for greener pastures.
Twitter seems to be doing NOTHING about dealing with DM spam.
http://mytblocker.blogspot.com/2014/07/yo-twitterwhats-with-...