Comment by SoftTalker
10 hours ago
But maybe not great at finance?
Why are they paying taxes if they have a huge order backlog. Expand your production capability. Amazon famously had no profits on paper for many years because of their relentless expansion.
> Why are they paying taxes
"Paying our taxes" in this kind of context is nearly always shorthand for "filling out our tax returns". That part usually takes a substantial hunk of time. The actual payment process is typically writing a check or entering credit card info, which just takes a few seconds.
Well, in this case it was actually literally paying our taxes. (In the photo, Steve is about to initiate a wire to the IRS.) At our size, it's not a check -- and certainly not a credit card.
As to why we're paying taxes: while tax minimization is certainly a thing (and we have taken advantage of things like R&D tax credits), we're paying taxes because we're profitable.
Can I just say how unfathomably based you guys are re:
"Compensation Everyone at Oxide makes $275,000 USD, regardless of location."
Hah, well, I stand corrected. And also, huge congratulations on profitability!
As someone who has applied less than 6 weeks ago, this is great news. I can't wait to hear back!
Maybe they're not trying to be great at the tax avoidance game.
The post is about how they don't have the capital to safely expand production capacity, which is why they're raising more.