And to the extent Twitter is still limping along it’s because Twitter due to its very nature benefits immensely from the stickiness of social networks.

For example, Facebook is almost completely junk. It hasn’t improved or been relevant in a long time. And yet it survives and makes tons of money simply because people don’t want to rebuild their networks.

There are many other examples where even minor cuts have been devastating. The classic example is of course GE, the ultimate example of cutting a company to the bone, which worked for a decade or so, but set the company up to essentially cease to exist after.

Then you have Boeing, a company in an industry with less competition than probably any other in the world and it’s struggling to make money because of this thinking.