I was curious to see what these percentages looked like as a percentage of Revenue rather than as a percentage of the SBC total, since it looks like SBC as a percentage of revenue is variable in both companies as well.
Tells a similar story, but with a different frame. Facebook is actually spending a little less of its revenue on on R&D than Twitter. Twitter is massively out investing Facebook in all other categories, which makes its R&D look small by comparison.
I also did a little digging into employee counts in these quarters as well, was curious to see SBC per employee.
So even though Facebook is spending less of its revenue on SBC, it has a high revenue per employee ratio, so its SBC per employee is still higher.
For a full analysis of course we’d have to break this into a true employee count per department. I’m sure both companies are doing that internally, but from the outside, it sure looks better to be in R&D at Facebook than at Twitter.