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I've been to all hands where it probably cost that much just in travel: business class LHR to SFO, hotel for a few nights, dinners, drinks, entertainment, venue, guest speakers, and on and on.

It doesn't seem excessive, the networking in these things is often really worth it

[quaunaut]

In what business is everyone in the company going business class?

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Not everyone, but often there are travel policies where any travel more than X hours long you can book business class without manager authorisation via concur and the like.

It's really worth it when you get off a 12 hour flight and have to go straight into hours of meetings without being a zombie

[frutiger]

Bloomberg Engineering