[alberth]

It's less of a habit and more indication of a matured business.

Their revenue has only been growing ~5% (and slowing to just 1% most recent quarter).

When you aren't growing, you must focus on operation efficiencies.

Rule of 40, now being applied to margin.

[johnnyanmac]

I'm not going to believe this "matured business" narrative when the letter itself claims right after that.

>We continue to see softening demand and macro headwinds in our core business.

This isn't a matured business strategy. This is a business predicting a cold winter and trying to bundle itself up. Of course, the less people to warm up the better.

[bravetraveler]

Yea, that's fair. I'm just being critical of the 'facade' (said with less ire than it sounds). The size is no surprise, in or out. I'll be mildly merciful - not all his doing