Comment by legitster

> The almost $1.4 billion adjusted profit figure it shared is a vast improvement from the losses Twitter posted in pre-Musk days. The adjusted profit came from a measure known in industry parlance as earnings before interest, taxes, depreciation and amortization.

To quote the late, great Charlie Munger: "Every time you hear 'EBITDA', substitute it with bullshit earnings".

Wasn't this largely the playbook at Tesla as well? They famously used very cooked non-GAAP numbers to essentially lie about the profitability of the stock for nearly a decade.

And largely it worked! People bought Tesla shares in such droves that company enjoyed very favorable equity financing to build themselves.