X loses money so no margins there. Twitter has never made a profit in its history that I've ever heard of. Facebook's on the way out. 20 years ago it was college age users. 10 years ago it was people over 50. Now it's a lot of commercial accounts posting as they do on other basically dying or dead platforms. The only sign of life is streaming video and chats related to streaming video. YouTube has been losing users and content creators to both Rumble and Twitch. The right 1/3 of America is on Rumble while Twitch took the gamers. Youtube still has business but they basically gave away enough business to make those 2 relevant.

Alphabet's dependent on Youtube, cloud services, web search, and related ads to pay for the unprofitable parts of the business, which appears to be where the bulk of their employees work, rather than at the earnings-generators. If they screw up youtube, then they will have to lay a lot of the people in the fun and interesting jobs off, along with the many layers of bureaucracy and non-coders working in jobs that nobody's quite sure what they do there. They can't really afford to screw up youtube any more than they have. It can't merely do well. It has to do great to pay all of their bills. Very similar to the action-hero movies at the movie studio paying for all the unprofitable ones that most people work on