Another commenter mentioned the income-per-employee of SAP compared to US companies, and it was 4-8x difference. I think SAP has the problem of scaling, in that they need to hire people to grow the company, whereas the FAANGs can multiply their revenue without having to hire.
Spotify is also mentioned in that same post; it has the (profit) scaling problem that the more usage it gets, the more they have to pay their artists. Income and expenses scale alongside each other.
Spotify is also mentioned in that same post; it has the (profit) scaling problem that the more usage it gets, the more they have to pay their artists. Income and expenses scale alongside each other.