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Twitch "isn't profitable" admits CEO, in wake of recent layoffs
(www.eurogamer.net)
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this post was submitted on 12 Jan 2024
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My understanding is they tried to break into Korea and absolutely failed when local telecoms jacked up rates to "discourage" competition, and Korea is just corrupt enough to let it slide. I'm guessing there were ideas for other expansion opportunities as well, but with gaming being less popular after COVID lockdowns and investment money drying up, they need to shut down those riskier growth opportunities.
Last year's layoffs were largely around the Korea expansion, and this year is probably similar. I'm guessing they were working on some projects and didn't see the return they were hoping for, hence the pullback.