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Telegram to award grants to bot developers

telegram.org

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Re: Telegram to award grants to bot developers

#11

Post by hardwaresofton »

educar wrote: post #10

So telegram is a non-profit. And they splurge 1M USD? What am I missing? Edit: to clarify, what I meant is that I expected non-profits to make good use of their money and not give away large sums of money in prize competitions. Certainly, no NGO or non-profit I know of does this. Raises a red flag for me.

non-profit does not necessarily mean the company does not make profit. AFAIK it just requires that the profit made be spent on the company and/or cause rather than used as dividends or given to what would normally have been shareholders.

http://www.investopedia.com/terms/n/non-profitorganization.a...

Re: Telegram to award grants to bot developers

#12

Post by kelnos »

educar wrote: post #10

So telegram is a non-profit. And they splurge 1M USD? What am I missing? Edit: to clarify, what I meant is that I expected non-profits to make good use of their money and not give away large sums of money in prize competitions. Certainly, no NGO or non-profit I know of does this. Raises a red flag for me.

Profit/non-profit status has nothing to do with how much cash an entity keeps on hand.

Re: Telegram to award grants to bot developers

#14

Post by JJJollyjim »

educar wrote: post #10

So telegram is a non-profit. And they splurge 1M USD? What am I missing? Edit: to clarify, what I meant is that I expected non-profits to make good use of their money and not give away large sums of money in prize competitions. Certainly, no NGO or non-profit I know of does this. Raises a red flag for me.

You're missing that the founder also founded VK and thus has a net worth of $260 million (according to Wikipedia)

Re: Telegram to award grants to bot developers

#15

Post by jsprogrammer »

hardwaresofton wrote: post #11
educar wrote: post #10

So telegram is a non-profit. And they splurge 1M USD? What am I missing? Edit: to clarify, what I meant is that I expected non-profits to make good use of their money and not give away large sums of money in prize competitions. Certainly, no NGO or non-profit I know of does this. Raises a red flag for me.

non-profit does not necessarily mean the company does not make profit. AFAIK it just requires that the profit made be spent on the company and/or cause rather than used as dividends or given to what would normally have been shareholders. http://www.investopedia.com/terms/n/non-profitorganization.a...

If the "profit" is consumed by expenses, it is not profit.

Re: Telegram to award grants to bot developers

#17

Post by hardwaresofton »

jsprogrammer wrote: post #15
hardwaresofton wrote: post #11

Earlier quoted context omitted.

non-profit does not necessarily mean the company does not make profit. AFAIK it just requires that the profit made be spent on the company and/or cause rather than used as dividends or given to what would normally have been shareholders. http://www.investopedia.com/terms/n/non-profitorganization.a...

If the "profit" is consumed by expenses, it is not profit.

Are you referring to where I wrote "profit made be spent on the company"?

If so, I'd like to point out that expenses are not the only way you can spend on a company. Someone may also invest profit that they have made into expansion, for example.

"profit" can never be consumed by expenses, by definition (as you have pointed out). Profit can, however, be re-invested in a company, as opposed to being taken by the owner or shareholders, or whatever.

Re: Telegram to award grants to bot developers

#20

Post by jsprogrammer »

hardwaresofton wrote: post #17
jsprogrammer wrote: post #15

Earlier quoted context omitted.

If the "profit" is consumed by expenses, it is not profit.

Are you referring to where I wrote "profit made be spent on the company"? If so, I'd like to point out that expenses are not the only way you can spend on a company. Someone may also invest profit that they have made into expansion, for example. "profit" can never be consumed by expenses, by definition (as you have pointed out). Profit can, however, be re-invested in a company, as opposed to being taken by the owner…

An investment is an expenditure of money. What part of money set aside for expansion will not go to an expense? Where does it go?
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