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It's not hypothetical. Twitter has significant revenue. When revenue is generated from eyeballs (ads), then yes, number of users and engagement is a valuable me

• danieltillett 12y ago
  The problem is Twitter has even more significant expenses. What worries the bond rating agencies is if this will ever change.
  • jrallison 12y ago
    Of course. I wasn't challenging the bond rating, just the parent's notion that user engagement isn't a valuable metric for Twitter.
    • danieltillett 12y ago
      User engagement is not valuable to a bond holder since they see none of the upside. The only thing they care about is can twitter pay on time.
      • harryjo 12y ago
        engagement -> ad views -> revenue -> bond payment