Earlier quoted context omitted.
Twitter just doesn't have an idea about where to evolve. They've tried small changes, and nothing helped their bottom line. Rumors are that part of the reason is that they are not sure what their "secret sauce" is, so they are reluctant to change anything in fear of harming it. Also, they are dying. They have never turned a profit. Facebook or Google or Microsoft will eventually buy them, because of the users - but t…
Twitter (the service, not the company's) secret sauce is: You can have a public platform, using an identity you choose for yourself, to broadcast snippets of information. Where do you evolve this? Blogger, Blogspot, Livejournal, Tumblr, Medium, they're all in this same space, except they focus on traditional, long-form content. I don't see Twitter as a social network (although many do, that's okay). I see it as a bro…
So why does Twitter need 3,800 employees? Why does it need 1,500 technical employees?
Sure, it gets more traffic than any of those other sites, but growth has slowed and the traffic is more or less stable. The core product hasn't changed significantly. Their most ambitious innovation in recent years (Periscope) was an acquisition. What do the bulk of these engineers work on, day to day? It seems like Twitter is optimally set up to burn money.